The NZD/USD pair remains in a pronounced bearish trend on the H1 chart. The market has been making lower highs and lower lows for several sessions, and even the corrective rebounds have been shallow and short-lived. The current price action still reflects pressure near the lower part of the range, with buyers struggling to generate sustainable upside momentum. For the full day, the dominant scenario remains bearish, although some technical rebounds are possible given the oversold intraday condition.
Current price: 0.58284
Pivot: 0.5837
Nearest support levels: S1: 0.5821, S2: 0.5808, S3: 0.5793
Nearest resistance levels: R1: 0.5847, R2: 0.5862, R3: 0.5879
Note: If the pair stays below the pivot at 0.5837, the downside bias remains dominant and sellers may continue to pressure the market toward 0.5821. A break below that level would expose 0.5808 and then 0.5793 later in the day. If NZD/USD rises above 0.5837, a corrective rebound may unfold toward 0.5847 and 0.5862. Only a stable move above 0.5862 would indicate that the recovery is broadening, with 0.5879 becoming the next upside target.
