NZD/USD Intraday Signal: Downside Toward 0.5870
Analysis:
NZD/USD on the 1-hour timeframe remains in a short-term bearish structure after a clear sequence of Break of Structure (BOS) and Change of Character (ChoCH) signals pushed price below the 0.5950 level. The rejection from the upper 0.5980–0.6000 supply zone confirmed that sellers are still defending higher prices.
The current recovery toward 0.5920 appears to be a corrective bounce rather than a structural reversal. Price is approaching a minor intraday supply zone around 0.5930–0.5950, where sellers previously entered the market.
As long as the pair trades below 0.5950, the bearish bias remains intact. Liquidity is sitting below the recent weak low near 0.5870, making this level the next logical downside target if selling pressure resumes.
Trade Setup:
Enter: Sell below 0.5930
Stop-Loss (SL): 0.5965
Target A: 0.5890
Target B: 0.5870