The pair traded within a range after the strong decline from the 0.5980 area, then stabilized near the lower boundary and started a modest rebound. NZD/USD remains in a corrective structure, and the full-day outlook will depend on whether buyers can push the price above the Pivot and hold it there.
Current price: 0.58747
Pivot: 0.5878
Nearest support levels:
S1: 0.5860
S2: 0.5845
S3: 0.5830
Nearest resistance levels:
R1: 0.5890
R2: 0.5910
R3: 0.5930
Note:
Above Pivot: a recovery above 0.5878 may signal that sellers are losing control near the lower boundary and support a rebound toward 0.5890. A stronger move above this resistance may open the way toward 0.5910 and 0.5930.
Below Pivot: while NZD/USD remains below 0.5878, downside risks stay active. A decline below 0.5860 may resume the bearish move and expose 0.5845 and 0.5830 during the day.
