NZD/USD shows a strong downtrend

On the hourly chart, NZD/USD is in a clear downtrend, especially since July 3, when the price broke below key support levels such as 0.6045 and 0.6015. The 200-period moving average (H1) is steadily sloping downward, and the price remains well below it, confirming the bearish momentum. A sharp drop occurred on July 15, with the pair breaking through another significant level at 0.5970. The current price is around 0.5910, marking new local lows, and with no clear support levels below, there is potential for further decline. The MACD indicator is deep in negative territory, with a red histogram and downward-sloping lines, reinforcing the bearish outlook. Overall, technical analysis points to a continuation of the downward movement in NZD/USD.

Resistances are at the marks: 0.5970, 0.6015, 0.6045

An alternative scenario: 0.5880, 0.5860, 0.5845

The main scenario for the pair suggests a break below support at 0.5880 (June 23 low), which could lead to a decline toward 0.5860 (May 15 low).

The alternative scenario assumes a rebound toward 0.5970 (July 16 high), and possibly further up to 0.6015 (July 14 high).