NZDUSD Sellers Prepare for A Deeper Decline

NZDUSD sellers are preparing for a deeper decline. The market remains under strong bearish pressure, with sellers pushing toward the 0.55500 support level. After buyers failed to sustain momentum at 0.57230, the market has continued its downward streak. This suggests the potential for further declines in the coming week.

Support Levels: 0.56500, 0.55000, 0.57600

Resistance Levels: 0.57230, 0.58000, 0.58400

Since last year, NZDUSD has been in a sustained bearish trend, with only brief periods of consolidation. The pair has been trapped between 0.57230 and 0.55500, but sellers are building strength for a downward breakout. The RSI (Relative Strength Index) confirms growing bearish momentum, suggesting further downside movement.

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The momentum indicator also reflects a weakening trend as prices decline. If sellers break below 0.55500, the next major support level to watch is 0.55000. If bearish strength continues, NZDUSD could drop below the 0.55500 key area, setting up a potential move toward 0.55000 or lower. A strong breakdown could reinforce the bearish trend.

However, if buyers regain momentum, a temporary pullback toward 0.56500–0.57230 key levels could occur before another selling wave.

In the shorter time frame, bearish momentum remains intact. The RSI is positioned for a potential breakout downward, signalling continued sell-side pressure.

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The momentum indicator is declining, reinforcing the expectation of further losses. If sellers maintain control, NZDUSD could see an accelerated drop below 0.55500, with 0.55000 as the next key target.