NZDUSD Intraday Signal: Selling Pressure Below 0.5960 Resistance
Analysis
NZDUSD on the 1-hour timeframe recently recovered from the 0.5850 strong demand zone, creating a bullish correction after the previous bearish structure. The move pushed price upward and produced a Change of Character (CHoCH), allowing the pair to revisit the 0.5950–0.5965 supply area.
However, the bullish attempt lost momentum inside this resistance zone. The chart shows a weak high formation near 0.5960, indicating that buyers are struggling to break through this liquidity area. This zone aligns with previous institutional supply and acts as a technical barrier for further upside.
Currently, price is trading around 0.5940, slightly below the supply region. The rejection from this level suggests that the recent rally may simply be a retracement into liquidity, rather than the beginning of a sustained bullish trend.
If NZDUSD continues to remain below 0.5960, the market may shift back to a bearish continuation. The first downside objective lies near 0.5910, which represents the nearest demand zone. A deeper decline could drive the pair toward 0.5850, where a strong low is located and buyers previously entered the market.
As long as the pair trades under 0.5960, the intraday bias remains bearish.
Trade Setup
Enter: Sell below 0.5930
Stop-Loss (SL): 0.5975
Target A: 0.5910
Target B: 0.5850