NZD/USD broke down through 0.5840 on Friday's blowout US NFP (172K vs 85K) and gapped lower into the new week, printing a fresh week low at 0.57778. Price sits well below EMA20 and EMA50 with RSI(14) near oversold after the slide; a modest bounce off 0.57778 has stalled into the 0.57944 session high. Hawkish RBNZ repricing offers a floor underneath but the post-NFP USD bid has been dominant.
Support: 0.57778, 0.5770
Resistance: 0.57944, 0.58083, 0.5830
What it said to watch
Failure to hold 0.57778 week low confirms continuation of the breakdown
H1 close back above 0.58083 prior low would challenge the bearish structure
US CPI Tuesday is the next major USD catalyst into this read
22:02 UTC
Downtrend, fresh lows · RSI 29 · price 0.57837
Lower highs and lower lows since Monday.
Friday's blowout US NFP print (172K vs 85K) drove the dominant leg down, breaking 0.5834 and pushing NZDUSD into fresh lows at 0.57778 on the weekend gap open. Price has tracked a clean chain of lower highs since Monday and sits well below both EMAs with RSI(14) pinned in oversold territory. The 0.5810 rectangle base now caps from above.
Support: 0.57778, 0.5750
Resistance: 0.5810, 0.5834
What it said to watch
H1 close back above 0.5834 would ease the downtrend read
Acceptance below 0.57778 opens the path toward 0.5750
NZD/USD held a tight 0.5850-0.5880 range most of the week before Friday's blowout US NFP (172K vs 85K) sparked a USD bid that broke the floor, dragging the pair through 0.5834 and 0.5810 into the 0.579s. The move ran in one impulsive leg through the NY session, leaving RSII(14) deeply oversold and price stretched well below EMA(20)/EMA(50). The 0.5810 rectangle base, lost on the break, now sits overhead as the first reference.
Support: 0.57894, 0.5780
Resistance: 0.5800, 0.5810, 0.5834
What it said to watch
H1 close back above 0.5810 would neutralise the breakdown
Failure to hold 0.57894 swing low opens path toward 0.5780
US CPI Jun 10 is the dominant catalyst into the next sessions