NZD/USD Intraday Signal: Watch 0.5760 as Key Downside Target
Analysis:
NZD/USD is showing bearish signs while trading below the 0.5800 strong supply zone. Price has repeatedly rejected the upper resistance, forming a weak high and signaling that sellers remain active. The recent BOS confirms a potential shift in momentum, with downside pressure building toward the 0.5760 intraday support zone.
Liquidity remains exposed beneath recent equal lows, making a corrective drop toward 0.5760 and 0.5720 likely. As long as the pair holds below the 0.5800 resistance, bearish continuation remains the preferred scenario. A clean breakout above 0.5800 would invalidate the setup and open the path toward 0.5840 and 0.5860.
Trade Setup:
Enter: Short below 0.5800
Stop-Loss (SL): 0.5825
Target A: 0.5760
Target B: 0.5720