NZD/USD Price Analysis: Bears on verge of test of trendline support

NZD/USD is failing to correct higher than a 38.2% Fibonacci retracement of the latest downside impulse and is now trading below a 15-min 21 moving average in bearish conditions.

This gives rise to the possibility of another test of the trendline support and a lower low on the hourly time frame.

H1 chart

15-min chart