NZD/USD breaks below 0.5914 trendline as sellers target July lows

NZD/USD has broken below the critical 0.5914 trendline support that has been connecting higher lows since May, signaling a potential shift in momentum favoring sellers. The pair's breach of this technical floor opens the path for further downside, with the immediate target at 0.5903, marking July's low. This trendline break represents a significant technical development after months of support, suggesting weakening bullish momentum in the New Zealand dollar. The breakdown comes amid broader risk-off sentiment and persistent strength in the US dollar. Traders should monitor whether the pair can sustain trading below 0.5914, as a failure to do so could invalidate the bearish signal. A confirmed close below this level would strengthen the bearish case, potentially accelerating losses toward the 0.5903 support and possibly extending to the 0.5850 psychological level if July's low gives way.