FX.co ★ NZD/USD

Hi everyone! NZDUSD, H1: the “flag” broke down — support at 0.5860 under attack The two-week high-range consolidation broke down: the price moved below the MA (~0.5880), which started to bend down, and is testing the lower boundary of the 0.58597 range. Momentum is bearish: MACD is below the signal, the histogram is expanding downward, KST is pointing down. However, CCI at -157 is deep oversold — chasing the decline is dangerous. Supports: 0.58597, then 0.58193, 0.57659. Resistances: 0.5880 (MA), 0.58976, spike high 0.5910. I’m not taking shorts from the lower boundary of the range with oversold conditions: the worst place for a short. I’m waiting for a reaction: a bounce with a tight stop for a scalp inside the range, or a confident break below 0.5860 — selling towards 0.5819. Brief summary: the bullish “flag” has broken, the price is pressing the lower boundary of the 0.5860 range; momentum is bearish (MACD/KST down), but CCI is deeply oversold — selling from these levels is late. Key outcome: holding 0.5860 will return the price to the 0.5860–0.5900 range, a breakout will open the way to 0.5819.