The pair traded within a range after the steep decline from the 0.5980 area and has now formed a stronger corrective rebound from the 0.5780 zone. NZD/USD is testing the upper part of the latest recovery structure, but the broader H1 picture remains fragile until the pair breaks through the nearest resistance and holds above the Pivot.
Current price: 0.58371
Pivot: 0.5825
Nearest support levels:
S1: 0.5815
S2: 0.5795
S3: 0.5775
Nearest resistance levels:
R1: 0.5848
R2: 0.5865
R3: 0.5890
Note:
Above Pivot: while NZD/USD holds above 0.5825, the recovery may continue toward 0.5848. A sustained move above this resistance may open the way toward 0.5865 and 0.5890.
Below Pivot: a return below 0.5825 would weaken the rebound and may send the pair back toward 0.5815. If sellers break this level, the next downside targets will be 0.5795 and 0.5775.
