NZD/USD Intraday Signal: Oversold but Bearish Below 0.5709
The NZD/USD pair remains under downward pressure, trading below the key resistance at 0.5709. Despite the RSI showing oversold conditions (below 30), there is still no sign of a clear bullish reversal, suggesting that bearish momentum continues to dominate.
The MACD remains below its signal line and in negative territory, confirming the persistence of selling pressure. Price action also remains beneath both the 20- and 50-period moving averages (at 0.5710 and 0.5721), reinforcing the short-term bearish outlook.
While a technical rebound cannot be ruled out due to oversold readings, the primary bias stays bearish as long as 0.5709 holds as resistance. A drop toward 0.5670 and 0.5654 remains likely. Only a sustained move above 0.5709 would neutralize the bearish setup and open the path toward 0.5729 and 0.5740.
Enter: Short below 0.5709
Stop-Loss (SL): 0.5729
Target A: 0.5670
Target B: 0.5654
