NZDUSD is in a relentless six-session slide to fresh YTD lows at 0.5664, a USD-driven move that broke 0.5700 and the prior swing-low structure despite firmer NZ Q1 GDP. Price trades well below both EMA(20) and EMA(50) with daily RSI deep in oversold territory near 25, leaving the next downside magnet at the 0.5625 May double-top measured target. The slope is one-way for now, but the stretched RSI flags exhaustion risk into tomorrow's US Core PCE.
Support: 0.5625, 0.5640
Resistance: 0.5700
What it said to watch
US Core PCE on Jun 25 is the marquee USD catalyst and could materially shift this read
Sustained acceptance below 0.5640 opens the 0.5625 double-top target
A daily close back above 0.5700 would be the first sign of short-covering against the trend
Kiwi has been in a relentless multi-week slide, accelerating over the last six sessions to break the 0.5700 zone and the January low — a USD-dominant move tied to hawkish-Fed repricing and a safe-haven dollar bid. Price trades well below both the EMA(20) and EMA(50), confirming the bearish swing structure, while D1 RSI sits deep in oversold territory near 26 as the move stretches into the 0.5625 May double-top measured target. The pace is unsustainable in the short run, but no reclaim of broken levels has materialised yet.
Support: 0.5640, 0.5625
Resistance: 0.5700
What it said to watch
Daily close below 0.5625 extends the down-leg toward January-low territory
Reclaim of 0.5700 would be the first sign the bearish run is exhausting
US Core PCE (Thu) is the key USD catalyst and could materially shift this read