Bulls take control, optimistic outlook

• NZD/USD rose 1.55% to close at 0.6235.
• The RSI has risen above 70, while the MACD is showing rising green bars, indicating strong bullish momentum.
• A break above 0.6250 could lead to a further rally towards 0.6300.

In Friday’s session, NZD/USD rose 1.55% to 0.6235, ending the week on a strong bullish note. The pair has broken out of a short-term consolidation range and is now facing a key resistance level at 0.6250. A break above this level could lead to another rally towards 0.6300.

On the daily chart, the RSI has risen near 70, indicating strong upside momentum, but with the potential for downside consolidation. The MACD is also showing rising green bars, supporting the positive outlook. Volume has increased over the past few sessions, suggesting that the current bullish momentum will continue.

NZD/USD Daily Chart

NZD/USD faces immediate resistance at 0.6255. A consolidation above this level could open the door for a new rally to retest the 0.6300 area. On the downside, immediate support lies in the 0.6200 and 0.6150 range. A break below 0.6150 could lead to a further decline towards 0.6100.