The NZDUSD remains firm helped by hopes for a US/China deal that would help to benefit both countries (presumingly) and give the NZ economy a boost too. Technically, the pair trades near its highest levels of the year, with price action holding above a strong technical cluster that includes:
The rising 100-hour MA at 0.6037
A key trendline and swing zone between 0.6018–0.6028
The 200-hour MA at 0.6015
This layered support has kept buyers firmly in control—but there’s a catch.
Despite the bullish structure, the recent series of lower highs is flashing a caution signal. For upside momentum to continue, bulls will need to break above those lower highs at 0.6040, 0.6064 and then the high from last week and highest level going back to October 2024 at 0.60794.
What’s next?
A break above resistance would invite fresh upside interest.
A move below 0.6015 (or rising 200 hour MA) would weaken the bias and open the door to deeper corrective pressure.
? Keep your eyes on price behavior near the highs—this could be the next launching point… or a sign of exhaustion.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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