NZD/USD Price Analysis: Trapped and consolidation is in play below bearish structure

NZD/USD bears are holding off the bulls and the daily support structure could come under pressure.
The weekly chart is weighed with a bearish bias.

Ross J Burland FXStreet

As per the prior day's analysis, NZD/USD Price Analysis: Bears could move in for the kill at any moment according to H4 structure, the price is respecting the prior 4-hour lows as resistance but the daily support structure is menacing.

NZD/USD H4 chart, prior analysis

It was stated in the New York session that the ''bears will be encouraged by a break of daily support at 0.6589 and might engage fully from there on the restest of the structure.'' The chart above illustrates that ''this would be expected to act as a firm resistance and ultimately lead to a downside continuation of the weekly chart's bear trend,'' as follows:

NZD/USD live market

The price has been creeping in on the old support turned to resistance and the 61.8% golden ratio appears to be doing a good job of containing the price, so far. Should the bears commit at this juncture, the daily support structure near 0.6590 will come under pressure, again, and could give way on the third attempt for a breakout.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD holds above 1.1800 after German sentiment data

EUR/USD stays in positive territory above 1.1800 on Monday after the data from Germany highlighted a modest improvement in business sentiment in February. Meanwhile, the US Dollar stays under pressure amid growing unceratinty surrounding the US trade regime, allowing the pair to hold its ground.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.