NZD/USD remains above MA (200) H1

There is a steady uptrend on the hourly chart of the NZD/USD pair. After consolidating in the area of 0.5945–0.5990, the price gained a foothold above the MA (200) H1 moving average and continued to grow, confidently overcoming the resistance level of 0.6020. At the time of the analysis, the quote is near the 0.6045 mark, approaching the local maximum of 0.6055. Bullish sentiment prevails, and there are no signs of slowing momentum yet.

The MACD indicator shows a steady growth of the histogram above the zero mark, which confirms the upward momentum and the activity of buyers. There are currently no signs of divergence or weakening of the trend. The overall picture points to the advantage of the bulls, and while maintaining the current dynamics, there is a high probability of updating the highs. In case of correction, it is important to monitor the price behavior at the levels of 0.6020 and 0.5990.

Resistances are at the marks: 0.6055-60, 0.6085, 0.6110

An alternative scenario: 0.6020, 0.5990, 0.5945

The main scenario of the pair's movement implies a breakout of the session high of 1.6055 (June 3 high) and there may be an increase to 0.6085 (Oct 21’ 2024 high) 

An alternative scenario assumes a breakout of the session low of 0.6020 and there may be a decline to 0.5990 (June 3 low, MA (200) H1)