• NZD/USD hovers around 0.59 after Tuesday’s gains
• Technical signals continue to suggest a bullish outlook, supported by rising moving averages
• Look for support around 0.5890, while resistance is expected in the 0.5910–0.5920 area

The NZD/USD pair climbed higher on Tuesday and is currently trading close to the 0.59 level as we head into the Asian trading session. The New Zealand Dollar is still finding support from consistent buying activity, maintaining a position roughly in the middle of its daily range, and demonstrating strength even with oscillators suggesting neutrality.

Looking at the technical indicators, the overall momentum appears to favor further gains. The Relative Strength Index (RSI) is currently at 63.91, technically still neutral but well above the 50 level and showing a slight upward trend. The MACD indicator is displaying a green bar on its histogram, which generally points to ongoing bullish momentum. However, some oscillators, like the Stochastic RSI Fast (at 100.00) and the Bull Bear Power (at 0.03077), are still neutral, hinting that the pair might be taking a breather after recent advances.

Adding to the bullish sentiment, moving averages are also providing positive signals. Both the 10-day Exponential Moving Average, currently at 0.57612, and the 10-day Simple Moving Average at 0.57198 are indicating buy signals. The broader trend is further confirmed by the longer-term 20-day (0.57265), 100-day (0.57076), and 200-day (0.58908) Simple Moving Averages. These longer-term averages are all trending upwards and are expected to provide support if the price dips.

When looking ahead, immediate support levels are found at 0.58908, followed by 0.58413 and then 0.57612. On the upside, resistance is initially around 0.59128. If the pair manages to break above this resistance, it could open up a path for further increases towards the 0.5950–0.6000 range.

Daily chart