NZD/USD Bullish Momentum Faces Critical Test
Solid ECN – The NZD/USD 4-hour chart shows the pair experiencing a recent uptrend. The price moves between key support and resistance levels, indicating potential future movements.
RSI (14)
The Relative Strength Index (RSI) is at 57.82, suggesting moderate bullish momentum without being overbought.
Awesome Oscillator (AO)
The Awesome Oscillator displays positive bars, indicating bullish momentum. However, the decreasing size of the bars suggests weakening momentum.
Bollinger Bands
The price recently touched the upper Bollinger Band and is now pulling back toward the middle band, indicating a potential consolidation phase.
Resistance Levels
0.613: Immediate resistance level.
0.6215: Key resistance level marking a recent high.
Support Levels
0.609: Immediate support level.
0.604: Further support level.
0.598: Key support level indicating a strong foundation for the price.
Bullish Scenario
If the price maintains above the immediate support at 0.609 and rebounds, it could test the resistance at 0.613. A breakout above this level could target the next resistance at 0.621. Sustained bullish momentum could drive the pair towards 0.6250.
Bearish Scenario
If the price falls below the immediate support at 0.609, it could decline towards the next support at 0.604. A breakdown below this level could target the key support at 0.598. Further bearish momentum could push the price to 0.5950.