On Tuesday, the NZD/USD pair rose sharply, gaining more than 1% and moving to 0.6340, levels not seen since December of 2023.
The NZD/USD pair has risen sharply to trade at 0.6340, a 1% rise, suggesting strong buying pressure. The RSI and MACD indicators are both sharply rising, indicating increasing buying momentum. With the pair near 0.6350, it tallied its highest level since December. The Relative Strength Index is currently at 70, in the overbought zone. Looking at the Moving Average Convergence Divergence confirms these conditions, printing rising green bars.
NZD/USD daily chart The pair maintains a bullish outlook, trading above its major moving averages and holding strong at support levels of 0.6200, 0.6180, and 0.6150. On the upside, resistance lies at 0.6280, 0.6300, and 0.6310. If the pair manages to close above 0.6280, it could signal further upward momentum, with the next target set around early September highs near 0.6300. Breaking through these resistance points with solid trading volume may strengthen the bullish case.
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