21:03 UTC
Downtrend, oversold · RSI 29 · price 0.5638
Lower highs and lower lows, descending channel.
Multi-week downtrend intact: an eight-session selloff has knocked NZDUSD ~5% to 7-month lows near 0.5630, with price trading well below a falling EMor(50) and RSI(14) pressed into oversold territory near 28. The slide accelerated on broad USD strength and hawkish-Fed repricing, with last week's in-line US core PCE only briefly steadying the pair. Price is now consolidating just above the descending channel floor at 0.5620-0.5630, the level that has capped further downside this week.
Support: 0.5625, 0.5600
Resistance: 0.5681, 0.5710
What it said to watch
- Daily close below 0.5620 confirms channel-floor break and lower-low continuation
- Reclaim of the 0.5710 ema cluster needed to signal a corrective turn
- ADP/ISM Wed and US NFP Thu could materially shift USD pricing and this read