NZD/USD - Long-Term Forecast: triangle pattern was broken to below for the bearish trend to be continuing

NZD/USD: ranging bearish. The pair is located below 100 period SMA (100 SMA) and 200 period SMA (200 SMA) for the primary bearish market condition for the ranging within the following key bearish levels:

• 0.6895 resistance level, and
• 0.6102 support level.
  

The price broke symmetric triangle pattern for the bearish trend to be continuing.

• if the price breaks 0.6895 resistance so we may see the local uptrend as the secondary market rally within the primary bearish market condition;
• if the price breaks 0.7743 resistance so the reversal from the primary bearish to the primary bullish condition will be started;
• if the price breaks 0.6102 support level so the bearish trend will be continuing with 0.6800 as the nearest bearish psy target;
• if not so the price will be moved within the channel.