The NZD/USD pair is showcasing a strong performance, rising to 0.6032 on Thursday.
The daily RSI for the NZD/USD reveals strong buying momentum, underpinned by rising MACD green bars. Despite slightly weakening green bars on the hourly MACD, the RSI indicates steadfast buying traction near 70. If buyers regain the 200-day SMA, the outlook will turn positive for the pair. Despite this, an observed stagnation in hourly advances warrants attention for any short-term shift as indicators reach overbought conditions and buyers might take profits.
Traders shouldn’t take off the table a slight technical correction ahead of the Asian session. NZD/USD hourly chart Regarding the Simple Moving Averages the pair holds above the 20-day SMA but remains below the 100 and 200-day. However, buyers are anticipated to challenge the 200-day SMA at the critical level of 0.6040 which if surpassed, could usher in stronger bullish prospects for the NZD/USD.
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