• NZD/USD is weakening and bears are in control.
• NZD/USD bears are eyeing key trendline supports and structures. 

NZD/USD is down on the day and heading toward key trendline support. At the time of writing, NZD/USD is trading at 0.6234 having traveled between a low of 0.6230 and a high of 0.6254. The following illustrates the series of breaks in structure and the prospects of a downside correction. 

NZD/USD daily chart

The price has been slicing through various levels of structure over the course of the year and 0.6064 is eyed on a break of the dynamic trendline support. 

NZD/USD H1 chart

From an hourly perspective, 0.6220 and 0.6200 are key structures should the bears manage to keep control below what will be considered as counter-trendline resistance.