The NZD/USD pair concluded Monday’s session virtually flat relative to its open, eking out a modest 0.08% advance as the US Dollar retreated amid escalating geopolitical tensions in the Middle East. The pair remains anchored above the 0.5900 threshold.
Technical Outlook: NZD/USD Price Forecast
From a price-action perspective, NZD/USD maintains a constructive bias, holding above an ascending trendline extending from the July lows that has now been tested on three occasions. The fact that price continues to respect this slope suggests buyers are actively defending the level, laying the groundwork for potential further gains.
The Relative Strength Index (RSI) reinforces the bullish posture, signaling that upside momentum remains intact.
For the advance to extend, the pair must reclaim the 0.5950 region, followed by the psychological 0.6000 mark. A decisive break higher would expose the February 12 high at 0.6077, ahead of the 2024 peak at 0.6094 and the 0.6100 figure.
To the downside, immediate support resides at the aforementioned trendline near 0.5901, followed by the 0.5850 level. A breach below that area would shift focus to the convergence of the 100- and 200-day Simple Moving Averages near 0.5847–0.5845, ahead of the 50-day SMA at 0.5818 and the 0.5800 handle.
NZD/USD Price Chart – Daily
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