NZDUSD Chart Technical Outlook heads lower to 0.5850 on bearish momentum
NZD/USD broad bias is bearish. Prices print lower highs and lows.
NZD is under pressure despite the market relief, taking the lead from past Friday. The recent Inflation expectation from New Zealand ticked down, while the RBNZ is due later this month with an expected pause.
Technical indicators and retailers’ sentiment support the bearish move.
I expect a downside price action toward 0.5850. If broken, 0.5775 will be in sight.
Resistances are located at 0.5940 and 0.6000.
