Published: 12 March 2026,00:59
Chart The Market
Dow Jones, H4:
The Dow Jones Industrial Average has shifted into a more pronounced corrective phase after failing to sustain momentum above the 50,270 resistance region. Following the earlier rally that pushed the index toward this upper Fibonacci zone, price encountered strong selling pressure and began to trend lower, breaking below the 0.236 retracement level near 48,580. This breakdown has weakened the prior bullish structure and suggests that the market is currently undergoing a deeper pullback within the broader trend. Recent price action shows the index testing the 47,220 support region after a sharp decline, with a brief rebound attempt emerging from this level. However, the recovery remains limited so far, indicating that bearish pressure is still present in the near term.
Momentum indicators continue to reflect weakening market sentiment. RSI remains below the midline and has been trending downward, suggesting fading buying strength. Meanwhile, MACD is firmly in negative territory with the histogram expanding on the downside, indicating that bearish momentum is still dominant. Overall, the Dow Jones appears to be transitioning from its earlier uptrend into a corrective phase, with the 48,577 level acting as a critical pivot that may determine whether the market stabilizes or extends its decline in the near term.
Resistance Levels: 48,580.00, 50,270.00
Support Levels: 47,220.00, 45,840.00
NZDUSD, H4
NZD/USD remains under mild downward pressure after failing to sustain its earlier rebound above the 0.5925 resistance zone. The pair previously attempted a recovery from the 0.5840 region, but buying momentum gradually faded as price approached the 0.5925 area, leading to renewed selling activity. As a result, the pair has slipped back toward the 0.5890 support level, reflecting continued consolidation within a broader short-term bearish structure. Currently, price is hovering just below the 0.5890 support area, which is an important level that has previously acted as a pivot in recent sessions. A sustained break below this zone could expose the pair to further downside toward the 0.5840 support region, where buyers previously stepped in to halt the earlier decline. Conversely, if the pair manages to stabilize above 0.5890 and regain upward momentum, a corrective rebound toward the 0.5925 resistance level may develop, with a stronger recovery potentially targeting the 0.5970 area.
Momentum indicators are showing signs of weakening bullish momentum. RSI has slipped back below the midline near 50, indicating that buying pressure is fading after the recent bounce. Meanwhile, MACD is beginning to turn lower with the histogram shifting back into negative territory, suggesting that bearish momentum is gradually rebuilding in the near term. Overall, the pair remains in a consolidation phase, with the 0.5890 level acting as a key near-term pivot that may determine whether the market resumes its decline or attempts another rebound.
Resistance Levels: 0.5925, 0.5970
Support Levels: 0.5890, 0.5840
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