NZD/USD Consolidates Following Recent Gains

The NZD/USD pair has paused its upward momentum, with the currency retracing from recent highs. Technical indicators suggest a neutral outlook, with the RSI declining

The NZD/USD pair has paused its upward momentum, with the currency retracing from recent highs. Technical indicators suggest a neutral outlook, with the RSI declining and the MACD showing weakening bullish momentum.

The pair’s consolidation is likely due to a combination of factors, including profit-taking after the recent rally and uncertainty surrounding the global economic outlook.

Technical Outlook

The NZD/USD pair is facing resistance at 0.6170, with a break above this level potentially leading to further gains. However, support lies in the 0.6130-0.6150 range, and a break below this level could signal a deeper correction.

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