NZD/USD Intraday Signal: Downside Prevails While RSI Stays Oversold
The NZD/USD pair remains under strong bearish pressure while trading below the pivot resistance at 0.5644. Sellers are driving the market lower, targeting the next downside levels at 0.5620 and 0.5602 in extension. The price structure continues to print lower highs and lower lows, confirming that the short-term trend remains firmly bearish.
Momentum indicators reinforce this view — the RSI is deeply oversold, sitting below 30, which highlights strong selling momentum but also raises the potential for a short-term technical bounce. The MACD remains below its signal line and in negative territory, confirming a bearish configuration. Price action also stays below the 20- and 50-period moving averages (0.5648 and 0.5656), maintaining downward alignment.
As long as 0.5644 holds as resistance, the bias remains bearish. However, traders should monitor for a potential bullish divergence if RSI begins to turn higher.
Trade Setup:
Enter: Short below 0.5644
Stop-Loss (SL): 0.5659
Target A: 0.5620
Target B: 0.5602
