NZD – Consolidating at Lows; Technical Bias Remains Soft

NZD/USD has drifted lower since early in the month, touching 0.5702 on Wednesday. The pair has broken below both its rising trendline and intermediate moving averages; RSI and stochastic readings continue to point lower, indicating residual downside pressure. Extended support is seen at 0.57 and 0.5670, with the critical 0.56 handle next, followed by 0.5570 and 0.55. Resistance is estimated at 0.5780 and 0.5820, then 0.5860 and 0.5930; the psychological 0.60 level remains the key upside barrier to watch.

Forecast range:
Resistance: 0.5780 – 0.5820 – 0.5860 – 0.5930 – 0.6000**  
Support: 0.5700 – 0.5670 – 0.5600* – 0.5570 – 0.5500

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