NZDUSD Intraday Signal: Bearish Bias Toward 0.5850
Analysis:
NZDUSD on the 1-hour timeframe remains in a short-term bearish structure after several consecutive Break of Structure (BOS) signals to the downside. The pair has been forming lower highs and lower lows, indicating that sellers continue to dominate the intraday market direction.
The recent drop pushed price toward the 0.5850 liquidity area, where the market created a temporary weak low before initiating a small corrective bounce. This recovery appears to be a retracement rather than a structural reversal, as price is now approaching a nearby supply zone between 0.5900 and 0.5920.
This area aligns with previous intraday liquidity and a cluster of prior highs. If the market rejects this region again, sellers are likely to re-enter the market and continue the downward move.
As long as NZDUSD remains below 0.5920, the bearish bias remains intact. The next downside liquidity targets sit around 0.5860, followed by 0.5850, which represents the most recent demand area formed during the previous impulse move.
Trade Setup:
Enter: Sell below 0.5900
Stop-Loss (SL): 0.5935
Target A: 0.5860
Target B: 0.5850
