Every read JAFX AI made on the NZD/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:04 UTC
Range, recovering off June lows · RSI 53 · price 0.58023
Broad range, higher lows since mid-June.
NZDUSD has spent four months oscillating between the April high near 0.5990 and the mid-June low at 0.5630, carving a rounded base as it recovered off that low. Price reclaimed the 0.5800 pivot and EMA(50) this week, helped by hawkish RBNZ repricing after strong ANZ surveys and a softer USD post-FOMC. The 0.5875 zone rejected earlier attempts and remains the ceiling capping this leg.
Support: 0.5762, 0.5700, 0.5630
Resistance: 0.5875, 0.5990
What it said to watch
- Daily close above 0.5875 opens the path back toward 0.5990
- Failure to hold 0.5762 exposes 0.5700 then the 0.5630 june low
- NZ Q2 labour data (Aug 4) is the key test for the RBNZ hike thesis and this recovery
21:04 UTC
Broad range, mild recovery · RSI 52 · price 0.58023
Range-bound, mid-range after reclaiming 0.5800.
NZDUSD has spent the last two months oscillating between the June low near 0.5630 and the May peak at 0.5994, and price now sits mid-range having reclaimed the 0.5800 pivot. The recovery off the 0.5762 lows tracks the hawkish RBNZ repricing after the strong ANZ business confidence beat, with price back above the 50-day. Two attempts near 0.5875 earlier capped the move, keeping this a contained range for now.
Support: 0.5762, 0.5700, 0.5630
Resistance: 0.5875, 0.5863, 0.5994
What it said to watch
- Daily close above 0.5875 opens the path back toward the 0.5994 may high
- Failure to hold 0.5762 exposes 0.5700 and the 0.5630 june low
- NZ Q2 jobs data (Aug 4) is the key test for the RBNZ hike thesis and could shift this range read