In a strong bullish move, the NZD/USD pair rose by 1.55% in Friday’s session, closing at 0.6235. Technical indicators are pointing towards further upside potential, with the RSI breaking above 70 and the MACD showing rising green bars. A breakout above the key resistance level at 0.6250 could trigger a rally towards 0.6300.
On the daily chart, the RSI near 70 indicates strong bullish momentum, supported by the MACD’s positive trend. Increasing volume in recent sessions suggests that the current uptrend is likely to continue.
Analysis and Outlook
The NZD/USD pair faces immediate resistance at 0.6255, with a potential rally towards 0.6300 on a breakout. Support levels are at 0.6200 and 0.6150, with a break below 0.6150 signaling a possible decline towards 0.6100.
Investors should watch for a sustained move above 0.6250 for confirmation of further upside momentum, while keeping an eye on support levels for potential downside risks.
Overall, the NZD/USD pair’s bullish outlook is supported by technical indicators and increasing volume, indicating a potential continuation of the current uptrend.