The NZD/USD pair has gained momentum, rising above the 20-day SMA. Bulls are trying to maintain control following Thursday’s recovery, which has shifted the technical outlook to slightly bullish.
On Friday, the NZD/USD showed renewed strength, climbing to around 0.6120 after a period of decline. Daily technical indicators are cautiously optimistic, with the RSI at 52 in positive territory, indicating a strengthening bullish momentum. The MACD is showing decreasing red bars, suggesting a slowdown in bearish momentum.
Bulls will face resistance at 0.6150 and 0.6200, with a close above these levels signaling further control for the bulls. On the downside, support lies at the convergence of the 100 and 200-day SMAs at 0.6070. A break below this level could shift the outlook back to bearish, potentially leading to a corrective slide towards 0.6050 and then 0.6030 support levels.