NZD/USD is trading in a downward direction

On the hourly chart, the NZD/USD pair is trading in a downward direction after reaching a local maximum around 0.6080. After the breakdown of the 0.6015 level, the price has consolidated below the MA (200) H1 moving average and is showing signs of weakening. An attempt to rebound from support around 0.5975 has not yet given a stable signal for a reversal, although the MACD indicator shows the formation of a bullish divergence and the histogram moving into a positive zone, which may indicate a corrective pullback. The nearest resistance is the 0.6015 level, the breakdown of which will open the way to the 0.6045 zone. At the same time, if sellers become more active and the price fails to gain a foothold above 0.6015, then a retest of the 0.5975 support is possible with the risk of further decline to 0.5960 and 0.5915. The moving average maintains a downward bias, confirming the predominance of bearish sentiment in the short term. The overall technical picture indicates a likely continuation of the decline, unless there is a solid consolidation above the 0.6015 zone.

Resistances are at the marks:  0.6015, 0.6045, 0.6080

An alternative scenario: 0.5960-75, 0.5915, 0.5880

The main scenario of the pair's movement implies a breakout of the area 0.5960-75 (June 19 and July 8 lows) and there may be a decline to 0.5915 (low of the Asian session on June 23)

An alternative scenario suggests a breakout of the session high of 0.6015 and there may be an increase to 0.6045 (July 11 high)