NZD/USD remains below MA (200) H1

Today, on the hourly chart, the NZD/USD is in a downtrend. The price is steadily trading below the MA (200) H1 moving average, which confirms the predominance of "bearish" sentiment. After the breakdown of the 0.5935 support level, the price continued to decline and tested the 0.5845 zone, from which there was a moderate rebound. At the moment, the pair is trading near the 0.5890 level, approaching the local resistance of 0.5900, which previously acted as support and may now limit the upward movement.

The MACD indicator shows a recovery — the histogram has moved into a positive zone, signaling the current short-term upward momentum. However, so far there are no stable signs of a trend reversal, and the movement is considered more likely to be corrective within the overall downward movement. The overall technical picture remains negative, but a short-term upward correction may continue until it meets strong resistance

Resistances are at the marks: 0.5900, 0.5935-40, 0.5975

An alternative scenario: 0.5845, 0.5755, 0.5630

The main scenario of the pair's movement implies a breakout of the support 0.5845 (May 12 low) and there may be a decline to 1.5755 (April 11 low) 

An alternative scenario suggests a breakout of the session high of 0.5900 and there may be an increase to 0.5935-40 (May 9 high, MA (200) H1)