The NZD/USD pair remains under clear bearish pressure on the H1 chart. The recent decline has been orderly and persistent, with rebounds staying shallow and short-lived. Even though the pair tried to recover during the latest session, the move lacked follow-through and quickly returned to a weaker tone. For the full trading day, the market may continue to trade with a downside bias unless buyers can reclaim the pivot area and hold above it. At the moment, the structure still points to cautious downside continuation, with only limited room for corrective rebounds unless resistance is broken decisively.
Current price: 0.58550
Pivot: 0.5858
Nearest support levels: S1: 0.5841, S2: 0.5828, S3: 0.5813
Nearest resistance levels: R1: 0.5868, R2: 0.5882, R3: 0.5897
Note: If the pair stays below the pivot at 0.5858, sellers may continue to pressure the market toward 0.5841. A break below that level would open the way to 0.5828 and then 0.5813. If NZD/USD rises above 0.5858 and consolidates higher, the corrective rebound may extend toward 0.5868 and 0.5882. Only a stable move above 0.5882 would weaken the current bearish structure and allow a broader recovery toward 0.5897.
