In the Wednesday session, the NZD/USD pair rides a strong bullish wave, with a recent increase of 1.28%.
The daily RSI of the NZD/USD signals it is approaching overbought, which often indicates future consolidation or potential reversal. The same indicators in the hourly chart further strengthen this view, specifically, with the RSI crossing the 70 mark. Buyers regained the 100 and 200-day SMAs, and this points to a bullish outlook. The uptick made the pair jump above its 100 and 200-day Simple Moving Averages , indicating that the outlook turned positive for the pair.
The recent Moving Average Convergence Divergence showing flat green bars indicates sustained but flat positive momentum. NZD/USD hourly chart In conclusion, the technical indicators for NZD/USD suggest strong buyer momentum. However, the RSI's proximity to overbought conditions hints at a potential easing of this upward pressure.
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