• The NZD/USD pair has climbed to modern highs since December.
• The RSI is deep in positive territory and the MACD is showing rising green bars, confirming the overall bullish outlook.
• If bulls fail to break 0.6400, it could trigger a downside correction.

On Friday, NZD/USD continued its gains from Thursday, adding 0.20% to reach 0.6354 and continuing its bullish trend.

Technical indicators suggest that buying pressure is likely to continue. The Relative Strength Index (RSI) is currently at 66, which is near the overbought area. This suggests that buying pressure is powerful, but moves may have been overextended. The Moving Average Convergence Divergence (MACD) is also bullish and the histogram is rising and green.

NZD/USD daily chart

The overall outlook for the NZD/USD pair is positive. The pair is trading above key moving averages and technical indicators are regaining strength. Buyers appear to have reached solid resistance at 0.6350, but buyers may be preparing to test it again. A break above this could pave the way for further gains and the pair could test the 0.6400 level. On the other hand, a rejection at this level could create selling pressure and the bears could head towards the 0.6300 area and push the pair further down to 0.6250-0.6200. That being said, if the pair maintains its 20-day Simple Moving Average (SMA) at 0.6220, the bullish outlook will remain unchanged.