Dollar New Zealand / Dollar AS
Pembelian

NZD/USD: Ready for a Bullish Continuation or Bearish Pullback?

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On this chart, we can see a recent spike in price action, pushing the pair above the 21 EMA (yellow) and the 8 EMA (red), indicating a short-term bullish momentum. The price is currently consolidating around the 0.61100 level, which acts as a temporary support.

Key levels to watch are the resistance at 0.61300 and the support at 0.61036. A breakout above the 0.61300 resistance, especially with a strong close above the 21 EMA, could signal a continuation of the bullish move. Conversely, a break below the 0.61036 support could indicate a bearish pullback.

Given the current market structure, my bias is slightly bullish, but I will be monitoring the key levels closely for potential breakout or pullback opportunities.

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