21:04 UTC
Downtrend, oversold bounce · RSI 37 · price 0.56749
Lower highs / lower lows, at 7-month lows.
Established downtrend since the early-June breakdown, price carving 7-month lows near 0.5626 and holding well below EMA(50) on D1. RSI is climbing off oversold as a modest two-day bounce develops, helped by a USD pause post-PCE and a strong ANZ Business Confidence print. Supply has capped repeatedly under 0.5700 through June.
Support: 0.5626, 0.5600
Resistance: 0.5700
What it said to watch
- US NFP Thursday could reset the USD-driven downtrend
- RBNZ July 8 decision (hike vs hold) is the local wildcard
- Daily close above 0.5700 would break the descending structure
- Failure to hold 0.5626 confirms a lower low toward 0.5600