NZD/USD Intraday Signal: Downside Prevails Below 0.5785
The NZD/USD pair remains under downward pressure, with sellers maintaining control as long as the price stays below the 0.5785 resistance pivot. The short-term technical setup points to continued weakness, targeting 0.5750 and 0.5732 in extension.
Momentum indicators confirm the bearish structure — the RSI remains below 50, signaling negative momentum, while the MACD stays under its signal line in negative territory. Additionally, price action trades below both the 20 and 50-period moving averages (at 0.5790 and 0.5782), reinforcing the downside bias.
As long as the pair holds under 0.5785, rallies are expected to be short-lived. However, a breakout above this level would challenge the bearish view and could lead to a recovery toward 0.5804 and 0.5815. Until then, the pair remains in a downward channel, favoring short positions.
Enter: Short below 0.5785
SL: 0.5804
Target A: 0.5750
Target B: 0.5732
