NZDUSD snaps a two-day uptrend to pare recent gains at the highest levels since September, down 0.80% around 0.6080 during early Monday morning in Asia.
In doing so, the Kiwi pair eases below the 61.8% Fibonacci retracement level of its June-October downside amid nearly overbought conditions of RSI (14).
Even so, NZDUSD defends the previous week’s breakout of the 100-DMA level surrounding 0.6020, which in turn joins the bullish MACD signals to keep the buyers hopeful.
Even if the quote breaks the aforementioned DMA support, a one-month-old ascending support line near 0.5870 and the early October swing high near 0.5815 will act as additional downside filters before welcoming the bears.
Alternatively, the 61.8% Fibonacci retracement level near 0.6170, also known as the Golden Ratio, could restrict the short-term NZDUSD upside.
Following that, tops marked during late August, around 0.6250, will precede the 200-DMA level near 0.6280, which could challenge the NZDUSD pair’s further upside.
Overall, NZDUSD remains on the buyer’s radar unless providing sustained trading below the 100-DMA.
It should be noted that a downward-sloping resistance line from June, close to 0.6350, appears the last defense of the NZDUSD bears.

Trend: Limited downside expected
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