NZD/USD Price Analysis: Pair stabilizes near recent highs, bulls present

NZD/USD tallies another winning day on Thursday.
The RSI climbs signaling strengthening bullish sentiment.
Pair seems to be building support around the 20-day SMA.

Patricio Martín FXStreet

The NZD/USD pair settled at 0.5670, and the price action suggest a period of consolidation near recent highs but bullish momentum remains intact

Technical indicators reinforce the constructive outlook. The Relative Strength Index (RSI) has surged to 52, remaining in positive territory and reflecting increased buying interest. Additionally, the Moving Average Convergence Divergence (MACD) histogram continues to display rising green bars, underscoring sustained upward momentum and hinting at potential further 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. On the downside, support is observed at 0.5645, and any sustained drop below this level could trigger a deeper pullback toward 0.5610. Traders will be closely monitoring these levels as the pair seeks to establish a clearer directional bias.

NZD/USD daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

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