NZD/USD Holds Above 0.5950 with Bullish Bias Supported by EMA and RSI

NZD/USD Holds Above 0.5950 with Bullish Bias Supported by EMA and RSI

NZD/USD is trading around 0.5960 in the early European session on Thursday, showing signs of bullish strength after trimming earlier losses. The currency pair remains within a neutral rectangular range, but technical signals point to potential upside.

Key Technical Indicators

• Support is confirmed near 0.5950, the level of the 9-day Exponential Moving Average (EMA).
• The 14-day Relative Strength Index (RSI) stays slightly above the 50 level, indicating continued buying pressure.
• The price structure shows consolidation with potential for a breakout if momentum sustains.

Upside Levels to Watch

If NZD/USD manages to clear 0.6000, it could advance toward:

• 0.6038, the six-month high from November 2024.
• Beyond that, a strong rally could challenge the seven-month high of 0.6350, last seen in October 2024.

Market Sentiment

While the overall trend remains neutral in the short term, the technical foundation supports further gains, especially if US data weakens the Greenback or if risk sentiment stays elevated.

Internal Links for Tredu.com

• Live NZD/USD Chart
• What RSI Means in Forex Trading
• Exponential Moving Average Strategy Guide
• NZD/USD Forecast – Weekly Outlook