NZDUSD Intraday Signal: Selling Pressure Below 0.5960 Resistance
Analysis
NZDUSD on the 1-hour timeframe recently formed a corrective recovery after establishing a strong demand zone near 0.5850. From this level the market created a Change of Character (CHoCH) and pushed upward toward the 0.5950–0.5960 supply area.
As price approached this zone, bullish momentum weakened and a weak high structure formed around 0.5960. This indicates that the buying pressure was likely a retracement into institutional liquidity, where sellers previously entered the market.
Following the rejection from this supply region, the pair started to move lower again. The current price around 0.5900 suggests that the market is already reacting to that resistance and the structure is shifting back toward a bearish continuation scenario.
If NZDUSD continues to trade below 0.5960, the downside momentum could extend toward nearby liquidity zones. The first downside objective is located near 0.5885, which represents the closest support area formed during the previous consolidation.
If bearish pressure strengthens, the market could extend the decline toward the 0.5850 demand zone, where the chart shows a strong low that previously triggered a bullish reaction.
As long as NZDUSD remains below 0.5960, the intraday bias favors bearish continuation.
Trade Setup
Enter: Sell below 0.5900
Stop-Loss (SL): 0.5970
Target A: 0.5885
Target B: 0.5850
