Created
: 2024.09.13
2024.09.13 07:25
In Thursday's session, the New Zealand Dollar appreciated against its US counterpart, recovering from the previous session's decline. The NZD/USD pair moved up by 0.75% to a high of 0.6180, as the bulls took control of the market.
The Relative Strength Index (RSI) is currently at 55, which is in positive territory and has a rising slope, suggesting that the bulls are gaining momentum. The Moving Average Convergence Divergence (MACD) printed decreasing red bars, a sign of a potential reversal in the bearish momentum. This is aligned with the recent price action, which shows the bulls are pushing back.
Key support levels to watch are 0.6120, 0.6140, and 0.6160, while resistance levels are 0.6185 (20-day Simple Moving Average), 0.6210, and 0.6230. A consolidation above the 0.6200 would put the pair back above the 20,100 and 200-days SMA which could trigger additional upwards movements.
Created
: 2024.09.13
Last updated
: 2024.09.13
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