21:01 UTC
Downtrend, attempting basing · RSI 50 · price 0.5892
Lower highs since Feb peak, range developing near lows.
NZDUSD has been in a multi-month downtrend off the late-January 0.6092 peak, with a chain of lower highs into the March cycle low at 0.5686. Price has since carved out a tentative double bottom around 0.5686/0.5740 and is now testing the EMA(50) near 0.5925 after risk-on flows linked to the reported US-Iran ceasefire MOU lifted the kiwi. RSI has worked back to neutral with mild bullish divergence vs the March low, but the broader weekly structure remains lower-high until 0.5983 gives way.
Support: 0.5835, 0.5740, 0.5686
Resistance: 0.5925, 0.5983, 0.6090
What it said to watch
- D1 close above 0.5925 ema50 and 0.5983 May high would break the lower-high sequence
- Loss of 0.5835 swing low reopens the path back toward 0.5740 Mar low
- Fed speakers leaning hawkish (Musalem) vs ongoing US-Iran ceasefire headlines remain the dominant macro driver