NZDUSD is in a relentless multi-week downtrend, closing at 0.57092 on a fifth straight down day after breaking the 200-day region and the January low. The leg is driven by broad USD strength on hawkish-Fed pricing, overpowering a Q1 GDP YoY beat and the RBNZ's hawkish tilt. RSI(14) sits near 26 — deeply oversold on the daily — with a double-top structure pointing at the 0.5640 area while 0.5683 holds as the last shelf before it.
Support: 0.5683, 0.5640, 0.5700
Resistance: 0.5800
What it said to watch
Daily close below 0.5683 opens the 0.5640 double-top target
Reclaiming 0.5800 (200-day) needed to flip the downtrend read
US Core PCE Thu could materially shift this read via Fed-hike pricing
NZDUSD is in a multi-week downtrend, printing a fifth straight down day into fresh YTD lows near 0.5709 as broad USD strength on the re-hawkened Fed overwhelms a Q1 GDP beat and a hawkish RBNZ tilt. Price trades below a falling EMA(50), with the descending sequence of lower highs from the 0.5994 May peak intact. RSI(14) is pressing into oversold near 32, with 0.5683 the immediate floor and a double-top projection eyeing 0.5640.
Support: 0.5683, 0.5640
Resistance: 0.5737, 0.5800, 0.5835
What it said to watch
Clean daily close below 0.5683 ytd low opens the 0.5640 dt target
Reclaiming the 0.5800 200-day region would challenge the lower-high structure
US Core PCE Thu could materially shift this read via Fed-hike pricing