The NZD/USD pair reached fresh highs since December, with the RSI and MACD indicators supporting a bullish outlook. If the bulls fail to break through the 0.6400 resistance level, a downward correction might occur.
On Friday, the NZD/USD pair continued its upward trend, reaching 0.6354 with a 0.20% gain. The technical indicators show strong buying pressure, with the RSI near the overbought area at 66 and the MACD histogram rising with green bars.
The NZD/USD daily chart indicates a bullish outlook, with the pair trading above key moving averages and technical indicators gaining strength. Buyers are facing resistance at 0.6350, but a break above could lead to further upside towards the 0.6400 level. However, a rejection at this level could trigger selling pressure with a potential downside target of 0.6300 or lower.
If the pair holds above the 20-day SMA at 0.6220, the bullish outlook remains intact. Overall, the NZD/USD pair is poised for further gains, but traders should monitor key resistance levels and potential downside targets to navigate market volatility effectively.
