NZDUSD moved lower after RBNZ surprised with a 50 basis point rate declineopting for the larger move after markets were split between expectations of 25 or 50. The initial reaction led the pair to its lowest level since April 11break under last month at 0.5753. However, sellers were unable to force a deeper extension, with the decline stalling inside a key swing zone between 0.57397 and 0.5772. Importantly, the move also kept above the 61.8% recovery of 2025 trading range at 0.57272leaving this as an untested support target for now.
Since then, the pair has rebounded, getting back above the top of the swing zone at 0.5772. For buyers to make it real, however, they still need to break – and hold – for them. Median 50% of year range at 0.5802. Staying below this level keeps the broader technical bias tilted in favor of sellers.
At this point, the NZDUSD is growing a new range definedwith clear levels for traders to build on. On the downside, support is found at 0.57397–0.5727while the resistance is at 0.5802. A sustained push above resistance would frustrate sellers and make the bias higher, while holding below keeps the focus on downside targets.
