Neutral outlook as bulls and bears battle for leadership

• NZD/USD upside appears to be limited as buying and selling forces battle for dominance.
• The RSI suggests a neutral outlook, while the MACD indicates declining selling pressure.
• A crossover between the 100- and 200-day SMAs could propel the pair higher.

NZD/USD traded mostly flat in Friday’s session and failed to hold on to the gain, taking it to a high around 0.6260 after pulling back to 0.6240.

The Relative Resistance Index (RSI) is at 61, in positive territory with a flat slope. This indicates a neutral outlook for the pair as buying pressure is constant. The Moving Average Convergence Divergence (MACD) histogram is red and down, suggesting that selling pressure is diminishing.

NZD/USD Daily Chart

Key support levels include 0.6150, 0.6120 and 0.6100, while resistance levels are 0.6190, 0.6200 and 0.6230. A close above the 20-day SMA, currently at 0.6200, could signal another upward move, with the next target being the early September highs near 0.6300. Additionally, traders should monitor the 0.6100 area as the 100- and 200-day SMAs are about to perform a bullish crossover. This could serve as bullish confirmation and trigger another upside level.