NZD/USD remains in a well-established bearish trend. The pair has fallen from the 0.5860 area and accelerated lower after breaking the previous support zone around 0.5810–0.5820. The latest decline produced a local low near 0.5758.
The rebound towards 0.5780 was rejected, leaving the pair below the key intraday resistance at 0.5790. As long as the price remains below this level, the market is likely to retest 0.5758. A confirmed break lower may extend the decline towards 0.5740 and 0.5720.
A recovery above 0.5790 would reduce the immediate downside pressure and allow a correction towards 0.5805. However, the broader trend would remain bearish below 0.5820.
Current price: 0.57756
Key intraday level: 0.5790
Support levels:
- S1: 0.5758
- S2: 0.5740
- S3: 0.5720
Resistance levels:
- R1: 0.5790
- R2: 0.5805
- R3: 0.5820
Daily scenario:
- Below 0.5790: the bearish scenario remains active, with targets at 0.5758 and 0.5740.
- Above 0.5790: a corrective recovery towards 0.5805 becomes possible.
Expected working range: 0.5740–0.5805.
