Key Expected Rebound Zones for the NZD/USD Pair

The NZD/USD pair is moving within a descending price channel on the daily timeframe, coinciding with the strengthening of the US dollar, which began with the onset of the US-Iran conflict.

Currently, the pair has rebounded from daily buying levels, attempting to target the selling supply zones that align with the upper boundary of the descending price channel.

Expected Scenarios

We currently have several possible scenarios for the NZD/USD pair's movement.

The first scenario is a renewed decline, which is highly probable, as the pair is facing strong selling pressure on the daily timeframe, consistent with the descending price channel.

If the decline does occur, the pair may target the lower boundary of the descending price channel, as illustrated on the chart, or levels close to 0.57100.

The second scenario is an upward move, which requires breaking through the supply zones and the descending price channel and closing above them with a bullish daily candle.

If this scenario is realized, the pair may target the next supply zones near the 0.5966 levels shown on the chart.