NZD/USD Intraday Signal: Downside Prevails as Long as 0.5875 Holds
NZD/USD remains under bearish pressure below the pivot level at 0.5875. The RSI is oversold (below 30), which could either signal continuation of the downtrend or a potential rebound if bullish divergence emerges. The MACD is negative and below its signal line, confirming weakness. Price also trades below its 20- and 50-period moving averages (0.5888 and 0.5897) and even below the lower Bollinger Band (0.5857), which highlights oversold conditions but keeps momentum bearish. As long as 0.5875 holds as resistance, targets stand at 0.5835 and 0.5815. A breakout above 0.5875 would expose 0.5895 and 0.5906.
Enter: 0.5865
SL: 0.5895
Target A: 0.5835
Target B: 0.5815