NZDUSD Intraday Signal: Sell Below 0.5690
Analysis
NZDUSD on the 1H timeframe remains in a clear downtrend, with consistent lower highs and lower lows supported by multiple BOS confirmations. The latest price action shows a weak reaction from the 0.5680–0.5690 zone, which is marked as a weak low, indicating liquidity remains below.
The recent upward movement is corrective and lacks structural strength. Price failed to reclaim previous supply zones (0.5720–0.5750), confirming that sellers are still in control. This type of shallow pullback typically precedes continuation toward liquidity below equal lows.
With bearish momentum intact and no confirmed reversal structure (no valid CHoCH to upside), the probability favors further downside expansion.
Trade Setup
Enter: Sell below 0.5690
Stop-Loss (SL): 0.5730
Target A: 0.5650
Target B: 0.5600