The NZDUSD has experienced a bearish breakout through the rectangle support. The target is set at 0.6063.

The trading setup was spotted on NZDUSD. The NZDUSD price has surpassed the support line of a Rectangle pattern as of 6AM on March 5, 2024. There is a potential prediction for a bearish price movement over the next 20 hours towards 0.6063.

The pattern’s overall visual representation is of high quality. The initial price trend before this trading setup was formed is extremely robust. The support line breakout was extraordinarily powerful. This provides a very solid indication of the existing market psychology.