On Thursday's session, the NZD/USD remained flat at around 0.6120, as investors seem to be taking profits.
The daily RSI shows that the pair has strong positive momentum, approaching overbought conditions but turning flat. Hourly RSI indicates a slight retreat, hinting at some short-term consolidation. The pair remains firm above its main SMAs, signaling a solid bullish sentiment in the near and distant future. On Thursday's session, the NZD/USD remained flat at around 0.6120, as investors seem to be taking profits.
The red bars of the MACD suggest that the buying traction was weak in the last hours. NZD/USD hourly chart To conclude, bearing in mind the positive RSI indicators and the green MACD histogram, alongside the currency pair being above critical SMAs, the market seems to favor the bulls for the NZD/USD pair in both the short and long term but further consolidation shouldn’t be taken off the table. However, the conquered 100- and 200-day SMA will be a strong support that could limit losses.
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