- On Friday, the NZD/USD couple gains value, persisting above the key level of 0.5700.
- The couple maintains an upward trend, supported by bullish technical indicators.
- It remains to focus on whether dynamics can push the pair towards the next resistance level of 0.5750.
On Friday, the NZD/USD pair continued the upward trend, growing by 0.44%to reach 0.5705 and stay above the 20-day straight average (SMA). This means a stable continuation of the upward trend observed from mid -January, initiated by a break above 0.5600. Although slight declines at the beginning of the week reflected the potential implementation of profits, the couple kept their position above 0.5700, signaling a lot of interest in buying. On the other hand, the steam could not be maintained by an endowy pressure near 0.5800.
Technical indicators coincide with the positive perspectives of the couple. The relative strength index (RSI) increased rapidly to 63, strongly in the plus, which suggests solid growth dynamics and space for further increases. Meanwhile, the histogram of the average movable convergence (MacD) shows flat green posts, which indicates persistent shopping pressure despite a transient break in acceleration.
Immediate resistance is currently observable at 0.5750, the level that can be a gate for a couple to turn higher. On the other hand, support is at 0.5670, followed by a more solid lower level around 0.5640. As long as the couple remain above these support levels, the upward trajectory will remain intact, with the potential for further appreciation in the near future.
