On H4, the quotes are under the 200-days Moving Average, which indicates a downtrend. A test of 1/8 is expected, followed by a breakaway and a decline to the support level of 0/8. The scenario can be cancelled by a breakaway of the support level of 3/8 upwards. In this case, the pair can grow to 5/8.
On M15, the lower line of the VoltyChannel indicator is broken away, increasing the probability of the decline of the pair.
NZDUSD, “New Zealand Dollar vs US Dollar”
On H4, the quotes are also under the 200-days Moving Average, which indicates the prevalence of a downtrend. A bounce off 3/8 is to be expected, followed by a decline to the support level of 1/8. The scenario can be cancelled by rising over the resistance level of 4/8, which will propel growth to 6/8.
On M15, the lower line of VoltyChannel is broken away. This confirms the downtrend and a high probability of further decline.