NZD/USD Price Analysis: Pair extends gains and settled around 0.5705, momentum builds

Source Fxstreet
  • NZD/USD advances on Friday, holding above the key 0.5700 level.
  • The pair maintains its uptrend, supported by bullish technical indicators.
  • Focus remains on whether momentum can push the pair toward the next resistance level at 0.5750.

The NZD/USD pair continued its upward trajectory on Friday, rising by 0.44% to settle at 0.5705 and mantains its footing above its 20-day Simple Moving Average (SMA). This marks a steady continuation of the bullish momentum observed since mid-January, which was initiated by a breakout above the 0.5600 level. While minor pullbacks earlier in the week reflected potential profit-taking, the pair has maintained its position above 0.5700, signaling strong buying interest. On the negative side, the pair failed to sustain its intraday push near 0.5800.

Technical indicators align with the pair’s positive outlook. The Relative Strength Index (RSI) has climbed sharply to 63, firmly in positive territory, suggesting healthy upward momentum and room for further gains. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram shows flat green bars, indicating sustained buying pressure despite a temporary pause in acceleration.

Immediate resistance is now seen at 0.5750, a level that could act as a gateway for the pair to aim higher. On the downside, support is found at 0.5670, followed by a more robust floor around 0.5640. As long as the pair stays above these support levels, the bullish trajectory remains intact, with potential for further appreciation in the near term.

NZD/USD daily chart

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin volatility drops to third-lowest level since 2012 amid rise in BTC treasury companiesBitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
Author  FXStreet
Yesterday 02: 11
Bitcoin (BTC) trades above $108,000 on Tuesday following a steady decline in its volatility in the first half of the year, marking the third-lowest H1 volatility since 2012.
placeholder
AUD/NZD inches higher to near 1.0900 as RBNZ maintains Official Cash Rate at 3.25%AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
Author  FXStreet
Yesterday 03: 03
AUD/NZD holds ground after the Reserve Bank of New Zealand (RBNZ) decided to stand pat on the policy rate after six consecutive cuts, trading around 1.0890 during the Asian hours on Wednesday.
placeholder
Ethereum Price Turns Positive — More Upside Likely if Momentum HoldsETH is now consolidating gains and might aim for a fresh move above $2,620.
Author  NewsBTC
Yesterday 03: 26
ETH is now consolidating gains and might aim for a fresh move above $2,620.
placeholder
Jeff Bezos sold nearly 3 million Amazon shares for $665.8 million in early JulyJeff Bezos has sold nearly three million shares of Amazon in the first two days of July, offloading a total of $665.8 million.
Author  Cryptopolitan
Yesterday 03: 43
Jeff Bezos has sold nearly three million shares of Amazon in the first two days of July, offloading a total of $665.8 million.
placeholder
Gold price slides further below $3,300, over one-week low amid a firmer USDGold price (XAU/USD) trades with a negative bias below the $3,300 mark during the Asian session on Wednesday and drops to a one-and-a-half-week low in the last week.
Author  FXStreet
23 hours ago
Gold price (XAU/USD) trades with a negative bias below the $3,300 mark during the Asian session on Wednesday and drops to a one-and-a-half-week low in the last week.
Related Instrument
goTop
quote