21:01 UTC
Downtrend, near range lows · RSI 44 · price 0.58431
Lower highs from Jan peak, basing near 0.5840.
NZDUSD has been in a downtrend since the late-January peak at 0.6093, carving a sequence of lower highs through March, April and May. Price has stalled into a tight base between 0.5833 swing low and 0.5888 recent high over the last two weeks, with both EMA20 and EMA50 capping rallies. RBNZ's hawkish hold this week briefly lifted NZD crosses but the USD pair failed to reclaim 0.5880, leaving the multi-month downtrend intact.
Support: 0.5833, 0.5774, 0.5681
Resistance: 0.5888, 0.5991, 0.6093
What it said to watch
- Daily close below 0.5833 swing low confirms continuation toward 0.5774 Mar low
- Daily close above 0.5888 recent high opens path back to EMA50 and 0.5991 May high
- Hawkish RBNZ repricing into next meeting could disrupt the downtrend read