NZD/USD Intraday Signal: Downside Prevails Despite Oversold RSI
NZD/USD remains under pressure as long as it trades below the pivot resistance at 0.5849. The RSI is oversold (below 30), which could either indicate continuation of the downtrend or potential for a rebound if bullish divergence emerges. The MACD is negative and below its signal line, confirming bearish momentum. Price also trades below both the 20- and 50-period moving averages (0.5848 & 0.5853) and below the lower Bollinger band (0.5831), reflecting strong bearish pressure. Downside targets are seen at 0.5815 and 0.5794. A break above 0.5849 would negate this bias and expose 0.5869 and 0.5881.
Enter: 0.5835
SL: 0.5869
Target A: 0.5815
Target B: 0.5794