• Daily indicators remain positive, although slightly flattened.
• Hourly charts show a short-lived decline in the RSI and a flattening of the MACD, signaling possible short-term consolidation.
• Anticipating a bullish transition between the 200-day and 100-day SMA at 0.6040 could strengthen bullish momentum in future sessions.

During Friday’s session, the NZD/USD rate rose towards the level of 0.6125. The positive trajectory of this pair continues to demonstrate the mighty influence of buyers in the market. However, echoes of consolidation may suggest a respite after the recent rally that pushed the pair above the 100- and 200-day straightforward moving averages (SMAs).

Analyzing the daily chart of the NZD pair, we can see that the Relative Strength Index (RSI) is showing a mighty positive trend. After coming close to overbought conditions at 69, the RSI has fallen to a still positive level of 63. Consistent with this, the Moving Average Convergence Divergence (MACD) is displaying flat green bars, which may suggest flattening momentum.

NZD/USD daily chart

Turning to the hourly chart, there is a clear downward trend in the RSI readings, with values ​​dropping from 64 to 57 throughout Friday’s session. The MACD histogram follows this pattern, with flat green bars signaling reduced growth momentum.

NZD/USD Hourly Chart

From a broader perspective, the NZD/USD position suggests a mighty uptrend. Trading above the 20-, 100- and 200-day straightforward moving averages (SMAs), the pair is showing upside momentum on both the brief and long term.

Taking into account both the daily and hourly RSI trends, as well as the positioning of the MACD and SMA, it can be concluded that the NZD/USD pair may need a breather after the recent rally. Despite this, the market structure remains bullish.