The NZDUSD pair has shown volatile movement during its recent intraday trading, holding onto gains achieved with support from positive signals coming from the relative strength indicators, after the pair managed to ease its overbought condition. It is now retesting the key resistance level at 0.5870, while still facing negative pressure due to trading below its 50-period simple moving average.

The main bearish trend continues to dominate in the short term, with price movements aligned along a downward trendline. This threatens the pairs recent gains and leaves it vulnerable to a pullback at any moment, yielding to these negative pressures.