NZD/USD Intraday Signal: Downside Toward 0.5850
Analysis:
NZD/USD remains under bearish pressure on the 4-hour timeframe after a clear Change of Character (ChoCH) and structural breakdown below the 0.6000 level. The market has shifted from a prior bullish structure into a distribution phase where sellers continue to dominate price action.
The recent decline formed a weak low near 0.5850, indicating that liquidity may still exist below current price levels. As long as the pair trades below the 0.6000 supply zone, downside continuation toward 0.5850 remains the primary scenario. Only a strong recovery above 0.6000 would weaken the current bearish structure.
Trade Setup:
Enter: Sell below 0.5950
Stop-Loss (SL): 0.6005
Target A: 0.5880
Target B: 0.5850