NZDUSD moves to new lows for day and lowest level since April 14 | Forexlive

The NZDUSD has shifted lower after breaking beneath a key support confluence, including the 200-day moving average at 0.5883 and a price floor near that level. The move signals growing bearish momentum as sellers gain control.

Support is now found at the swing area between 0.5852 and 0.5860, with the pair testing the low of that zone. A move below would target the 200-bar moving average on the 4-hour chart, which comes in at 0.5847. Below that, the 38.2% retracement of the April move up, at 0.58204, serves as the next critical downside level.

To sustain the bearish shift, NZDUSD needs to stay below the 0.5852–0.5860 area, or more conservatively for sellers looking for more downside, the 200 day MA at 0.5883. Staying below would ultimately need a break and hold under 0.5820. Failure to do so could invite dip buyers and shift control back toward the bulls.

Summary:

• Broke below 200-day MA at 0.5883 and support floor.

• Swing area support: 0.5852–0.5860.

• Key downside targets: 0.5847 (200-bar MA on 4H) and 0.5820 (38.2% retracement).

• Staying below 0.5820 would confirm seller control.