NZDUSD Price Action Analysis - descending triangle pattern to be crossed for breakdown

W1 price is located below 200 period SMA and 100 period SMA for the primary bearish with secondary ranging between Fibo support level at 0.6084 and 38.2% Fibo resistance level at 0.6737:

• The price is ranging between Fibo support at 0.6084 and 23.6% Fibo resistance at 0.6475;
• Descending triangle pattern was formed for the price to be broken from above to below for the bearish trend to be continuing;
  
• If weekly price will break 0.7552 support level so the primary bearish will be cintinuing, otherwise the price will be ranging within the familiar levels;
  
• "The New Zealand Dollar continues to oscillate in a well-defined rangeabove the 0.62 figure against its US namesake. The dominant trend continues to look decidedly bearish, painting the current standstill as digestion preceding the resumption of downward momentum."
  
• "Near-term support is in the 0.6219-44 area, marked by the 38.2% Fibonacci expansion and the September 7 low. A break below this barrier on a daily closing basis opens the door for a test of the 50% level at 0.6069. Alternatively, a move above the 23.6% Fib at 0.6406 clears the way for a challenge of the 0.6497-0.6521 zone, bracketed by the July 16 low and the 14.6% expansion."

Trend:

• W1 - ranging bearish