NZDUSD is trading around 0.5734, struggling to rebound after weeks of steady downside pressure. The pair remains below both the 50-day and 200-day SMAs, reflecting a persistent bearish bias. The 0.5720–0.5690 zone is acting as near-term support, while resistance stands at 0.5780 and 0.5830, key barriers that bulls need to reclaim to shift momentum.
On the daily chart, price has been trapped in a narrow range following a sharp slide earlier this month. Sellers continue to dominate rallies, with each attempt to climb above 0.5800 quickly rejected.
A sustained break below 0.5690 would expose deeper support near 0.5550, while a recovery above 0.5830 could spark a short-term retracement toward 0.5910.
Looking at the weekly chart, the broader picture remains bearish, with NZDUSD capped under a multi-year descending trendline that has guided price lower since 2021. Both moving averages continue to point south, confirming that the long-term structure still favors sellers.
My Takeaway:
The Kiwi is holding a fragile floor, but buyers have little control for now. Unless 0.5830 breaks decisively, the path of least resistance stays downward with 0.5550 as the next key target if sentiment weakens further.