FX.co ★ Khurram78 | NZD/USD

Based on a technical assessment of the NZD/USD pair and the daily pivot level at 0.5807, the market shows signs of further short-term bearish pressure. On the one-hour timeframe, the 14-period RSI is reading around 39, which reflects weak momentum and supports a bearish bias. This outlook is strengthened by the price trading below the 50-day moving average, suggesting a near-term corrective move is underway. That said, the broader trend remains constructive, as price action is still holding above both the 100-day and 200-day moving averages. This indicates that medium- to long-term sentiment continues to favour the upside, and the current decline may prove temporary. Should the market stabilise and respect key support zones, there remains scope for a renewed bullish move. The pivot point at 0.5807 is a crucial reference for upcoming price behaviour. On the downside, initial support lies at 0.5783, which is close to current levels. A clear break below this area could expose the next support at 0.5763, a level that would be important in assessing whether bearish momentum is likely to extend. On the upside, immediate resistance is located at 0.5826. A decisive move above this level could open the path towards the second resistance at 0.5850. Any such advance should be confirmed by improvements in RSI readings and supportive moving average signals to validate either a trend continuation or reversal. From a trading perspective, one possible approach would be to consider short positions near 0.5800, with a protective stop-loss around 0.5825 and a profit target close to 0.5775, aligning with daily support. At the same time, traders could also watch for buying opportunities near the 100-day moving average at approximately 0.5788, targeting 0.5838 while placing a stop-loss at 0.5738. Ongoing monitoring of momentum and trend indicators remains essential to manage the risk of unexpected reversals.