RSI and MACD in better forms to favor buyers in piercing 200-DMA. Horizontal area starting November provides immediate upside.
A two-week-old horizontal resistance challenges pullback moves prior to an ascending trendline from January.
NZD/USD reaches an intraday high of 0.6850, as bulls return from Tuesday’s Asian session.
After a pullback from their 15-week high, the Kiwi pair has surpassed the 100-DMA mark.
It is worth noting that the MACD/RSI conditions are more favorable for NZD/USD bulls in extending the recent break of the 100 DMA towards a horizontal region comprising multiple tops since late November 2021 at 0.6900.
The pair’s upside beyond 0.6900 is dependent on its ability to conquer the 200-DMA level 0.6930.
Pullbacks are still difficult until you stay above a fortnight of horizontal support at 0.6810.
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Bears will challenge the yearly low of 0.6530 if the NZD/USD price drops below 0.6685.
