NZD/USD Intraday Signal: Downside Prevails Below 0.6069
Analysis:
NZD/USD maintains a clear bearish intraday structure while trading below the pivot resistance at 0.6069. Sellers remain in control, targeting the psychological level at 0.6000 as the primary downside objective. Price action continues to respect resistance, reinforcing the negative short-term bias.
Momentum indicators confirm the bearish scenario. The RSI remains below 50, signaling weak buying pressure, while the MACD trades below its signal line and in negative territory, highlighting sustained downside momentum. In addition, price is positioned below both the 20- and 50-period moving averages, further aligning with a bearish configuration.
Alternatively, a sustained move above 0.6069 would challenge the downside bias and open the path toward 0.6093 and 0.6108, where higher resistance levels are located.
Trade Setup:
Enter: Short below 0.6069
Stop-Loss (SL): 0.6093
Target A: 0.6035
Target B: 0.6000