NZD/USD Price Analysis: Bears have the upper hand, might aim to challenge YTD low

NZD/USD Price Analysis: Bears have the upper hand, might aim to challenge YTD low By HareshMenghani NZDUSD Technical Analysis Majors Currencies

The formation of a descending trend-channel point to a well-established bearish trend.The NZD/USD pair

Looking at a slightly broader picture, the NZD/USD pair has been trending lower along a descending channel extending from mid-June, which points to a well-established short-term bearish trend. The negative bias is reinforced by the fact that oscillators on the daily chart are holding deep in the bearish territory and have been struggling to gain any meaningful traction on hourly charts.

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