In Thursday's session, the NZD/USD declined by 0.30% to 0.6140, failing to sustain its gains as the bulls took a breather.
NZD/USD failed to extend its gains and consolidated in a narrow range around 0.6140. The RSI has fallen back to 62, while the MACD is now showing decreasing green bars, indicating that the bullish momentum is slowing down. A break below 0.6130 could lead to a further decline towards 0.6100. In Thursday's session, the NZD/USD declined by 0.30% to 0.6140, failing to sustain its gains as the bulls took a breather.
On the daily chart, the RSI has fallen back to 62, indicating a neutral market sentiment with moderate buying pressure. The decreasing green bars in the MACD suggest weakening bullish momentum, supporting the view of a potential consolidation or reversal. The volume has been decreasing over the past few sessions, suggesting that the current consolidation is likely to continue. NZD/USD daily chart The NZD/USD pair is facing immediate resistance at 0.6170.
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