On the H4 timeframe for NZDUSD, the price has been consolidating in a descending channel since the mid-May low, with key resistance at 0.58628 and support at 0.58093. Recent candles show declining momentum, as the close at 0.58093 marks a pivotal low following a series of lower highs and lows. The volume spike on the 0.58093 close (12573) confirms strong selling pressure, aligning with the bearish structure. Price action suggests a potential reversal setup, with the recent low acting as a critical support level. The downtrend remains intact, as the 4-hour chart displays clear bearish bias, and the current consolidation…

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