NZD/USD Recovers Ground, Reclaims 100-Day SMA

The NZD/USD pair has rebounded, reclaiming the crucial 100-day Simple Moving Average (SMA) level, as positive market sentiment supports the New Zealand Dollar. The pair

The NZD/USD pair has rebounded, reclaiming the crucial 100-day Simple Moving Average (SMA) level, as positive market sentiment supports the New Zealand Dollar. The pair gained over 1% on Friday, with technical indicators suggesting growing bullish momentum.

The Relative Strength Index (RSI) is currently hoverinfxg around 57, indicating a positive trend, while the Moving Average Convergence Divergence (MACD) is displaying increasing bullish signals.

Immediate resistance is located at 0.6060, with a potential breakout leading to further gains towards 0.6080 and the 200-day SMA. On the downside, support lies at 0.6030, and a break below could trigger a deeper correction.

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