It is testing the barrier at the nine-day EMA near 0.6200

• NZD/USD could face immediate resistance around the nine-day EMA at 0.6203.
• The 14-day RSI remains above the 50 level, confirming the overall bullish trend.
• Immediate support appears around the 14-day EMA at the 0.6180 level, aligned with the lower bound.

NZD/USD is holding its position around 0.6200 during European hours on Thursday. On the daily chart, the pair is moving above the lower limit of the ascending channel, supporting an uptrend. A break below the lower limit would weaken the uptrend.

The 14-day Relative Strength Index (RSI) remains above the 50 level, confirming the overall bullish trend. Additionally, the nine-day exponential moving average (EMA) is positioned above the 14-day EMA, signaling that the NZD/USD pair is experiencing near-term upward momentum and is likely to continue to rise.

On the other hand, the NZD/USD pair may face immediate resistance around the nine-day EMA at 0.6203, followed by the seven-month high of 0.6247 recorded on 21 August. A break above this level could see the pair test the upper limit of the ascending channel at 0.6330.

In terms of support, the NZD/USD pair may find immediate support at the 14-day EMA at 0.6180, aligned with the lower limit of the ascending channel around the 0.6170 level. A break below this level could weaken the uptrend and lead the pair to navigate the area around the psychological level of 0.6100.

NZD/USD: Daily chart