The NZD/USD pair witnessed a rise, trading at a high of 0.6160 before stabilizing at 0.6145 as the pair entered a consolidation phase.
In the daily chart, the Relative Strength Index (RSI) improved with the latest readings at 64, suggesting increased buying pressure. This rise in the RSI matches with the steady presence of green bars on the Moving Average Convergence Divergence (MACD), hinting at an ongoing upward trend.
Zooming in, hourly indicators remain in positive area but somewhat flattened with the RSI at 58 and the MACD printing flat green bars.
Additionally, the NZD/USD continues its strong upward trend, with the convergence of its 20, 100, and 200-day Simple Moving Averages (SMAs) in the 0.6050-0.6100 region providing strong support for the pair. Despite any data that may indicate a stabilizing NZD, the technical indicators reflect ongoing bullish activity. Any movements below this convergence could be considered a sell signal.