NZD/USD Price Analysis: Bears looking for downside extension on 15-min chart

• NZD/USD bears in control on the 15-min time frame.
• Bulls seeking an hourly upside break will need to wait for conditions to flip bullish above structure. 

NZD/USD is offering a bearish bias on the lower time frames while below structure and in a bearish environment according to the technical indicators n the 15-min chart. 

The following illustrates that the price made a 38.2% Fibo and extended to a 50% mean reversion of the bullish impulse. 

As such, the price can be expected to move higher, although the 15-min sticks offer a conflicting scenario while below the 21-moving average and with MACD bearish. 

Hourly chart

15-min chart, bullish

15-min chart, bearish