Abstract:NZD/USD is higher by some 0.5% on the day so far and headed for a bullish close to starting the week. However, breakout traders chasing the move could find themselves in trouble as per the following technical analysis. NZD/JPY is testing the limits of the support and resistance channel on the hourly chart as follows:

• NZD/USD bulls coming up for ain ahead of the keyUS event.
• The price is on the backside of a daily trend, and the front side of the weekly/monthly bear trend.
NZD/USD is higher by some 0.5% on the day so far and headed for a bullish close to starting the week. However, breakout traders chasing the move could find themselves in trouble as per the following technical analysis. NZD/JPY is testing the limits of the support and resistance channel on the hourly chart as follows:
NZD/USD WEEKLY CHART

A break of the resistance opens the risk of a trendline breakout and a run towards the price inefficiency between 84.82 and 85.23. There would be expected to be a fair bit of resistance thereafter which could potentially lead to a downside correction and even a full-on continuation on the higher time frames such as the following daily chart's illustration.

The W-formation that is forming is also a bearish feature that could see the price struggle and hamstrung on bullish attempts. The W-formation is clearer on the line chart as follows:

NZD/USD daily chart
We also have a daily W-formation forming into the close on Monday and this reinforces the bearish prospects for days ahead as the countdown to the US Consumer Price Index gets underway.

That is not to say, however, that a test of resistance cannot happen before Thursday's main event. This leaves the 0.6470s exposed. In any case, traders will be looking to the lower timeframes for signs for deceleration from the bulls that could lead to a break of 0.6200 and the 90.6191 recent lows in time to come.



No, we are not kidding! The rupee has indeed hit this low, from 90 to 95 against the US dollar, the fastest in nearly a decade, highlighting the slump due to rising crude oil prices and global uncertainty from the series of adverse events related to the geopolitical conflict in the Middle East. It just took five months for the rupee to weaken from 90 to 95, the sharpest five-point depreciation since the 2013 taper tantrum. During this period, the rupee declined from 60 to 65 within a month amid concerns over India’s current account deficit and large capital outflows.

While it was a flat day for India’s benchmark stock indices (Sensex & Nifty), there was a sort of recovery for the rupee in the foreign exchange market on May 21, 2026. Giving investors more reasons to enjoy was another bull run for gold, which is touching the 16K threshold for 10 grams. Taking three markets combined, the overall sentiment remains mixed for investors. Here is how the day panned out for investors across these markets.

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