Side deals on set, constant upbeat momentum

• NZD/USD is consolidating around 0.6225 with bullish traction.
• The RSI is rising to 60, while the flat green MACD bars show a neutral to bullish outlook.

NZD/USD continues to consolidate around 0.6225 with the bulls taking a lull but looking to gain strength ahead of their next upside leg. Bears took a step earlier in the week, pushing the pair down nearly 1%, but those moves appear to have been only corrective as the overall outlook is bullish.

The Relative Strength Index (RSI) has risen to 60, while the Moving Average Convergence Divergence (MACD) is flat green bars, suggesting that while momentum is positive, it appears to be flattening, favoring sideways moves. Volume is also medium, suggesting that bullish momentum may be limited

NZD/USD Daily Chart

Looking at support and resistance levels, the pair is facing resistance at the 0.6250 level. A break above this level could open the door for further gains. On the downside, the pair faces support at the 0.6200-0.6180 level. A break below this level could turn the tide in favor of the bears.