24/7 SUPPORT
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Published: 24 June 2026,07:36
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NZDUSD, H4:
NZD/USD has broken below the key support level at 0.5675, reinforcing the prevailing long-term bearish trend and signaling that sellers remain firmly in control of the market. The decisive break beneath this critical support zone represents a significant technical development and suggests that downside momentum is continuing to build.
The breakdown confirms a bearish continuation pattern, as the pair continues to trade within a sequence of lower highs and lower lows. This price structure indicates that rallies are being sold into and that the broader downtrend remains intact.
Attention now shifts to the previous swing low near 0.5575, which serves as the next major support level. A move toward this area would further validate the bearish outlook and confirm the strength of the current downward trend. Should NZD/USD break below 0.5575, it could open the door for an extension of losses toward the next support zone around 0.5516.
Momentum indicators are also supporting the negative bias. The Relative Strength Index (RSI) continues to trend lower, indicating that selling pressure remains dominant and that bullish momentum is lacking.
Similarly, the Moving Average Convergence Divergence (MACD) remains in decline, reflecting the strengthening bearish momentum. The continued weakness in both RSI and MACD suggests that downside pressure is accelerating, reinforcing the view that the path of least resistance remains to the downside.
Resistance Levels: 0.5798, 0.5930
Support Levels: 0.5516, 0.5355
USDJPY, H4
USD/JPY has climbed above the critical 161.00 level, a region that has historically attracted heightened market attention due to concerns over potential government intervention to support the Japanese yen. The move beyond this threshold has fueled speculation that Japanese authorities may closely monitor the currency market should the pair continue to appreciate.
Despite reaching these elevated levels, USD/JPY has recently entered a period of consolidation, trading in a relatively flat and sideways pattern around the 161.55 mark. This lack of follow-through buying suggests that bullish momentum may be losing steam after the pair’s strong advance.
Momentum indicators are beginning to support the case for a potential reversal. The Moving Average Convergence Divergence (MACD) has formed a bearish crossover, or “death cross,” at elevated levels, indicating that upside momentum is weakening and that sellers may be starting to regain control.
At the same time, the Relative Strength Index (RSI) has retreated from overbought territory, further suggesting that buying pressure is fading. The combination of a declining RSI and a bearish MACD crossover often serves as an early warning sign that a trend may be approaching exhaustion.
These developments align with the view that USD/JPY could be entering a corrective phase after its recent rally. While the broader trend remains elevated, the weakening momentum indicators suggest that the risk of a pullback is increasing.
From a technical perspective, the immediate support zone is located near 159.90. This level represents the first significant downside target should selling pressure intensify. A break toward this support area would provide further confirmation that the bullish momentum has diminished and that a near-term trend reversal may be unfolding.
Resistance Levels: 162.00, 162.88
Support Levels:161.10, 159.90
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