NZD/USD is confidently above MA (200) H1

There is a steady uptrend on the hourly chart of the NZD/USD pair today. The price is confidently above the MA (200) H1 moving average (0.5900), which is directed upwards, which confirms the bullish market sentiment. After an impulsive increase, the price has adjusted to the support level of 0.5980 and is still holding above it, which may indicate the strength of buyers. At the same time, local resistance formed near the 0.6030 level, from which the price bounced down, indicating a possible slowdown in the upward momentum. The MACD indicator remains in the positive zone, but the histogram is decreasing, which indicates a weakening of the current bullish momentum and a possible correction. If the 0.5980 level is broken down, this may lead to a deepening correction with a target of 0.5900. In the event of a resumption of growth and a breakdown of 0.6030, the path to new local highs will open.

The overall direction remains upward, with priority given to purchases on pullbacks to support levels when the signal is confirmed.

Resistances are at the marks: 0.6030, 0.6060, 0.6085

An alternative scenario: 0.5980, 0.5900, 0.5830

The main scenario of the pair's movement implies a breakout of the session high of 0.6030 and there may be an increase to 0.6060 (Oct 22 high)

The alternative scenario assumes a breakout of 1.5980 (April 17 high) and a decline to 0.5900 (April 17 low, MA (200)H1) and then maybe by 0.5830 (April 14 low)