- NZD/USD adds another winning day on Thursday.
- The RSI rises signaling a strengthening of bullish sentiment.
- The pair seems to be building support around the 20-day SMA.
The NZD/USD pair settled at 0.5670, and the price action suggests a period of consolidation near recent highs but bullish momentum remains intact
Technical indicators reinforce the constructive outlook. The Relative Strength Index (RSI) has risen to 52, remaining in positive territory and reflecting increased buying interest. Furthermore, the Moving Average Convergence/Divergence (MACD) histogram continues to show ascending green bars, underscoring sustained upward momentum and suggesting possible additional gains in the near term.
From a technical perspective, immediate resistance lies at 0.5685, with a break above this level likely paving the way for a test of 0.5710. To the downside, support is seen at 0.5645, and any sustained decline below this level could trigger a deeper pullback towards 0.5610. Traders will be closely monitoring these levels as the pair looks to establish a clearer directional bias.
NZD/USD daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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