The NZD/USD pair is currently facing resistance at the 20-day Simple Moving Average (SMA) as momentum continues to persist. This indicates that the pair may struggle to break above this level in the near term. Traders should keep a close eye on how the pair reacts to this key resistance point, as it could signal a potential shift in the market trend. The SMA is a widely followed technical indicator that can provide important insights into the direction of price movements. Overall, the NZD/USD pair remains in a strong position, but traders should exercise caution and closely monitor price action for any potential changes in momentum.
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