- Gradually rising RSI and fundamental strength portray brighter chances of the pair’s upside.
- Near-term resistance-line and broad USD strength can question optimists.
With the positive fundamentals joining an uptick from oversold RSI levels, the NZD/USD pair currently aims to conquer 3-week long trend-line resistance as it trades near 0.6540 ahead of Europe open on Monday.
Should the pair manage to cross 0.6560 resistance-line, it can then target 0.6580 and 50% Fibonacci retracement of the present month moves around 0.6600.
During the quote’s additional rise past-0.6600, 0.6655 and 0.6690 could flash on bulls’ radar as landmarks.
Meanwhile, 0.6525 and recent low surrounding 0.6510 may offer immediate support to the pair, a break of which highlights 0.6500 round-figure for sellers.
Additionally, October 2018 bottom near 0.6425 might become bears’ favorite in a case of further downside under 0.6500.
NZD/USD 4-Hour chart
Trend: Positive
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