Expected Long-Term Decline for the New Zealand Dollar

The New Zealand Dollar pair is moving within a descending price channel.

The pair has already reached the upper boundary of the price channel,

which also coincides with strong selling areas at 0.59440.

This could push the price back down, leading to a further decline.

In the event of a decline, we are expected to see a decline near the lower boundary

of the descending price channel, as shown on the chart.

If the supply and price channel areas are breached and closed above them,

we may see a continued rise to the next supply areas,

which are located near 0.60760. From there, we may see another decline.