NZD/USD Intraday Signal: Bearish Below 0.5800
NZD/USD is testing a major supply zone near 0.5800, where repeated rejection confirms strong seller presence. The formation of a strong high, followed by BOS and equal highs liquidity, indicates a weakening bullish structure. As long as price remains capped below 0.5800, bearish continuation toward 0.5760 and the lower demand at 0.5720 remains the preferred scenario.
The pair is also holding within a consolidation range, but upside momentum continues to fade. A break below intraday support at 0.5760 would confirm downside acceleration. Conversely, a move above 0.5800 would invalidate the bearish setup and open the door toward 0.5830–0.5850.
Trade Setup:
Enter: Short below 0.5800
Stop-Loss (SL): 0.5825
Target A: 0.5760
Target B: 0.5720