The NZD/USD pair traded within a steady intraday decline and remains under pressure after failing to hold its corrective rebounds. The sequence of lower highs and lower lows is still intact, and the latest bounce looks technical rather than structural. As long as the pair remains below the pivot area, sellers keep the advantage for the full trading day.
Current price: 0.58519
Pivot: 0.58530
Nearest support levels: S1 0.58450, S2 0.58370, S3 0.58280
Nearest resistance levels: R1 0.58610, R2 0.58680, R3 0.58770
Note: Below 0.58530, the pair may continue to weaken toward 0.58450 and 0.58370; if bearish pressure remains strong, 0.58280 becomes the next target. Above 0.58530, a corrective rebound may extend toward 0.58610 and 0.58680, while 0.58770 would act as a stronger upside barrier.
