NZD/USD is under pressure

On the hourly chart, the NZD/USD pair remains under selling pressure after breaking below the 0.6035 support level and consolidating under the MA (200) H1 moving average, which now acts as a dynamic resistance. After a short-term consolidation, the price tried to form a local rebound, but the movement is corrective in nature, and there was no confident return above 0.6035. The MACD indicator shows weak recovery signals, but remains near the zero line without a pronounced impulse, which indicates insufficient buyer strength. The nearest support levels are located at 0.5990 and 0.5960, their breakdown will open the way to a test of the 0.5880 level. To restore the upward scenario, the pair needs to gain a foothold above 0.6035 and return the price above the moving average, only in this case it will be possible to talk about a change in the short-term trend. Until this happens, the risks of continued decline remain.

Resistances are at the marks: 0.6035, 0.6060, 0.6095

An alternative scenario: 0.5990, 0.5960, 0.5880

The main scenario of the pair's movement implies a breakout of the support 0.5990 (July 7 low) and there may be a decline to 0.5960 (June 19 low) 

An alternative scenario suggests a breakout of the session high of 0.6035 and there may be an increase to 0.6060 (July 7 high)