- NZD/USD trades near the 0.5900 zone following another daily push higher
- MACD supports bullish bias, while RSI flirts with overbought territory
- Key moving averages continue to underpin the pair’s upward trajectory
The NZD/USD pair advanced for a third session on Wednesday, holding near the 0.5900 region ahead of the Asian session. The pair saw modest gains and remained confined within a relatively tight range between 0.58865 and 0.59308, suggesting a steady bullish tone.
From a technical perspective, the broader bias remains positive. The MACD prints a buy signal, confirming continued bullish momentum. The Relative Strength Index (RSI) stands at 65.16, edging close to overbought conditions but still neutral. Similarly, the Awesome Oscillator and the Average Directional Index (ADX) remain flat, hinting that the current uptrend lacks strong conviction.
Still, the backdrop remains supportive of further gains. All major moving averages — including the 20-day SMA at 0.57318, the 100-day at 0.57083, and the 200-day at 0.58897 — are aligned in favor of buyers. The 10-day EMA (0.57905) and SMA (0.57374) also reinforce this structure, helping the pair sustain its recent upside.
Immediate support is found at 0.58897, followed by 0.58421 and 0.57905. On the upside, bulls may target resistance around 0.59666 if momentum strengthens.
Daily chart
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