NZDUSD Bears Regain Momentum Below 0.57230 Key Level 

NZDUSD bears regain momentum below the 0.57230 key level. Bulls have lost control as the price retreats below the 0.57230 significant level. The bulls, after showing signs of recovery earlier this year, have struggled to maintain traction, with bearish pressure dominating the market. Sellers are now poised to push the price lower, potentially targeting previous lows.

Support Levels: 0.55500, 0.54000, 0.56000

Resistance Levels: 0.57230, 0.60000, 0.58000

NZDUSD has been in a bearish trend since late last year, with the price dropping from 0.64500 to 0.55500. Buyers attempted a recovery, driving the price to 0.57230, but bearish momentum has since resumed. The MACD (Moving Average Convergence and Divergence) suggests the market retains some upward potential, but the momentum is fading. The Bollinger Band indicator highlights a narrowing range, hinting at potential volatility expansion. However, sellers currently appear more prepared to capitalize on the market’s direction.

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If sellers maintain their momentum, the price could retest the 0.55500 support level. A break below this level would signal further bearish dominance, potentially targeting 0.54000 as the next key area. Conversely, buyers would need to reclaim 0.57230 and hold above this level to regain control. Without a significant reversal, the bearish trend is likely to persist.

On the shorter time frame, sellers are closing in, with the MACD showing increased bearish activity. The Bollinger Band is beginning to expand, indicating growing volatility as sell traders push the price lower.

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If sellers sustain their pressure, the market could drop toward 0.56000 in the medium term. A brief consolidation near 0.56500 may occur before the next leg down. Buyers may attempt a short-term rebound, but without strong momentum, any gains are likely to be temporary.