Published: 26 March 2026,00:57
Chart The Market
Chart the Market (26/03/2026)
NZDUSD, H4:
NZD/USD remains under sustained downside pressure, with price action continuing to respect a sequence of lower highs and lower lows confirming a well-defined short-term bearish structure.The pair has recently broken below the 0.5840 support zone, a level that previously acted as a pivot area during recent consolidation. This breakdown reinforces the bearish bias, with price now hovering near the 0.5800 handle. From the recent swing high near 0.6020, the move lower represents a decline of approximately 3.5%–4%, indicating a steady but controlled downtrend rather than a capitulation move.
Momentum indicators continue to favor sellers. The Relative Strength Index remains capped below the neutral 50 level, currently in the low-40s, reflecting weak buying interest and sustained bearish control. Meanwhile, the Moving Average Convergence Divergence is trending lower, with the MACD line below the signal line and the histogram remaining in negative territory, signaling ongoing downside momentum.Overall, NZD/USD is in a persistent downtrend with resistance overhead, and unless key levels are reclaimed, rallies are likely to be corrective in nature rather than signaling a broader reversal.
Resistance Levels: 0.5840, 0.5890
Support Levels: 0.5795, 0.5750
GBPUSD, H4
GBP/USD is showing signs of fading bullish momentum, with price action transitioning into a more neutral-to-bearish consolidation following its recent recovery phase.The pair has struggled to sustain gains above the 1.3350 resistance zone, repeatedly failing to establish a higher high. This rejection suggests that upside momentum is weakening, with price now drifting back toward the mid-range. The broader structure is evolving into a range-bound environment, capped by resistance near 1.3530 and supported around 1.3185.
Momentum indicators reflect this loss of directional conviction. The Relative Strength Index is hovering just below the neutral 50 level, indicating a lack of strong buying pressure. Meanwhile, the Moving Average Convergence Divergence is beginning to roll over, with the MACD line converging toward the signal line and the histogram turning slightly negative suggesting fading bullish momentum and increasing downside risk. Overall, GBP/USD appears to be losing upward traction within a broader consolidation, with price at a key inflection point where a break below support could shift the bias more decisively bearish.
Resistance Levels: 1.3530, 1.3650
Support Levels: 1.3350, 1.3185
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