NZD/USD has been choppy since October, but remained bearish as we can see in the daily chart below: NZD/USD Daily Chart 1/21 (click to enlarge) We can also see that since December, price shifted to a sideways consolidation that ranged between roughly 0.7610 and 0.7870. Last week, during the 1/14 session, price attempted to break above 0.7870, but was held. There are 3 resistance factors here.1) 0.7870 line2) A falling speedline3) 100-day SMAApparently, bears are still in charge of NZD/USD as price retreated before tagging 0.79, and has now broken below 0.7608 slow, signaling bearish continuation.If the market is in bearish continuation and not choppy anymore, it should find resistance at 0.77 if it pulls back. Above 0.77, the 0.78 level and the falling speedline is the next key barrier that can keep NZD/USD bearish, even though choppy. NZD/USD Weekly Chart (click to enlarge)In the weekly chart, we can see a negative reversal signal (lower price lows corresponding to higher RSI levels). This suggests further room to fall. We do see that the next key support could be the 0.7453, 2012-low. Below that a key support pivot in 2011 at 0.7370 is the next possible support.