Expected Upcoming Drop for the New Zealand Dollar

The New Zealand dollar rebounded from strong resistance

 levels on the 4-hour timeframe.

With current selling pressure, a downward move is anticipated.

This suggests a potential decline in the medium-term index, 

indicating expected weakness.

The New Zealand dollar is likely to weaken against most currencies soon

 if the selling pressure is successful.

The index has also established strong supply levels.

These levels have been tested, and reversal signals are appearing 

on lower timeframes, such as the hourly chart.

Expected Targets

Currently, a decline in the index is expected due to the selling pressure.

This rebound from the new supply levels.

If the decline continues, we expect to see a move towards 

the targets identified on the chart, which are at 1.1925 and 1.1870.

If the index breaks through the supply levels and closes above them with a 4-hour candle,

we expect to see a continuation of the upward movement to revisit the previous high.