Consolidation takes place, 0.6000 remains crucial

• NZD/USD bulls struggle above 0.6000, bears at 0.5950.
• RSI neutralizes at 54, MACD flattens.
• The pair will register a weekly gain of 0.80%.

In the Friday session, the NZD/USD pair eased slightly to 0.6010, marking the seventh consecutive day in a tight range. Technical readings suggest the pair remains in a consolidation phase, with bulls struggling to push above 0.6000 and bears keeping the downside limited.

The Relative Strength Index (RSI) neutralized at 51, indicating a balance between buyers and sellers. The Moving Average Convergence Divergence (MACD) has flattened, showing a lack of clear directional bias. However, the histogram remains positive and the green bars indicate steady buying traction.

NZD/USD faces immediate resistance at 0.6000 and support at 0.5950. A break above 0.6000 could open the door for a rally towards 0.6040 (100-day Simple Moving Average (SMA)) and then towards 0.6150, while a break below 0.5970 (20-day SMA days) could lead to a deeper pullback towards 0.5900.

NZD/USD Daily Chart