NZDUSD bearish momentum and support zone

On the four-hour time frame, we see that the pair dropped to 0.70200, where they found current support, but it is not yet certain that the bearish trend is over. To move to a bullish trend, the pair should climb above 0.71000 to have at least some sign on the chart that there may be a reversal of the trend. Otherwise, we go down to 0.69500 and then to 0.69000. We can also form a drop-down channel by merging previous highs at the top and lows at the bottom, and we can use that channel as a chart orientation.