The pair traded within a range after the earlier downside wave ran into support and the market tried to stabilize following a sharp intraday washout. Still, on H1, NZD/USD remains structurally softer than AUD/USD: the pair is recovering from the lower boundary of the recent range, but buyers have not yet reversed the broader short-term bearish bias, and the latest bounce remains vulnerable while price stays under the stronger resistance pocket above.
For the full trading day, the outlook is balanced but fragile. A sustained move above the pivot would improve the recovery case, while failure there would keep the market exposed to another round of pressure into the lower part of the day’s range.
Current price: 0.58814
Pivot: 0.58880
Nearest support levels: S1: 0.58680, S2: 0.58520, S3: 0.58360
Nearest resistance levels: R1: 0.58940, R2: 0.59080, R3: 0.59220
Note:
Above Pivot: If the pair regains 0.58880 and holds above it, buyers may extend the rebound toward 0.58940 and 0.59080. If recovery momentum broadens during the day, the next target may come at 0.59220.
Below Pivot: If the pair remains below 0.58880, bearish pressure may return toward 0.58680 and 0.58520. A deeper intraday decline may then expose 0.58360.
