The pair traded within a range after the strong Friday drop and then started a small rebound from the lower boundary. NZD/USD remains under bearish pressure, and the latest bounce is still not large enough to reverse the broader downside structure. In the absence of a major New Zealand rate event this week, price action is likely to be driven mainly by U.S. inflation data and general risk sentiment.
Current price: 0.58005
Pivot: 0.5808
Nearest support levels:
S1: 0.5790
S2: 0.5775
S3: 0.5760
Nearest resistance levels:
R1: 0.5815
R2: 0.5830
R3: 0.5850
Note:
Above Pivot: if NZD/USD rises above 0.5808, the rebound may continue toward 0.5815. A stronger recovery could then target 0.5830 and 0.5850.
Below Pivot: while the pair stays below 0.5808, bearish risks remain active. A drop below 0.5790 may lead to a retest of 0.5775 and 0.5760.
