21:03 UTC
Downtrend, oversold bounce · RSI 37 · price 0.56496
Lower highs, lower lows in descending channel.
NZDUSD has carved a steady multi-week downtrend, printing fresh 7-month lows near 0.5630 after seven straight losing sessions, with price held well below a falling EMU(50) on D1. The last two sessions show a corrective bounce off ~0.5650 after the ANZ business-confidence beat, but the move is shallow inside the broader descending channel. RSI is lifting off oversold while structure remains lower-high, lower-low against a USD-strong backdrop.
Support: 0.56308, 0.5600, 0.5625
Resistance: 0.5684
What it said to watch
- Daily close above 0.5684 (9-day ema) would challenge the channel cap
- Failure to hold 0.5630 prior lows opens the 0.5600 channel floor
- ADP/ISM and Warsh's Sintra tone could materially reprice USD and shift this read