Nzdusd Closes One Of Its Best Weeks

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Nzdusd Closes One Of Its Best Weeks

Nzd/Usd Closes One Of Its Best Week In 2024

The bulls of the NZD/USD are in a league of their own as they have propelled the pair higher & allowed the NZD to close one of its best weeks. According to details, the NZD/USD has managed to close one of the best weeks this year (2024).

The NZD/USD is already trading above the main SMA lines, such as the 10, 100, and 200 on the daily chart. Additionally, the pair didn't have such a good week all the way back from 2023.

On the NZD/USD D1 chart, the RSI shows that the bulls remain a dominant force. The RSI initially dipped under the 60 but has since recovered and is printing above the 70 line.

Macd &Amp;Amp; Rsi Hints At More Upside For Nzd

According to currency experts, the price action seen in the NZD/USD is a sign of accumulating strength. While the greenback is under pressure, the NZD continues to press higher towards new heights.

The MACD (Moving Average Convergence Divergence) indicator also prints green bars, which is a sign that the NZD/USD is still in bullish territory.

On the NZD/USD's H1 chart, the trend is also positive, as the RSI is near 57.17. Similarly, the MACD indicator shows green bars, which are shirking little by little. This is a sign of profit-taking as the NZD/USD investors exit the market on fears of a pullback.

Over all, the NZD/USD is in a pretty strong positon in terms of technical & fundamental outlook. In fact, both the short & long-term outlook of the NZD/USD is bullish as confirmed by the RSI and the MACD on the H1 & D1 charts.

The NZD/USD is also above all of its important SMA lines such as the 50 and 100 present near 0.6008 and 0.6079.

Given the current technical outlook of NZD/USD, the pair is headed towards the 0.6150 and then the 0.6200 resistance levels. On the way down, the nearest support is at 0.6100 and then 0.6080, where the bulls can catch their breath.

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