NZD/USD Intraday Signal: Rebound Expected Toward 0.5638 Above 0.5596
The NZD/USD pair is attempting a short-term rebound while holding above the pivot level at 0.5596. The near-term outlook suggests a corrective move toward 0.5638, as buying interest emerges from oversold conditions. Despite a broader bearish background, the current stabilization above 0.5600 signals that the downside momentum is slowing down.
Technical indicators present a mixed configuration — the RSI remains below 50, reflecting limited strength, while the MACD is above its signal line but still in negative territory, indicating a cautious recovery attempt. Price action trades above its 20-period moving average (0.5606) but below the 50-period average (0.5615), which supports a neutral-to-rebound scenario.
As long as 0.5596 holds as support, the bias favors a short-term upward correction toward 0.5638. Alternatively, a break below 0.5596 would invalidate the rebound setup and open the path toward 0.5581 and 0.5572.
Trade Setup:
Enter: Long above 0.5596
Stop-Loss (SL): 0.5581
Target A: 0.5620
Target B: 0.5638
