NZD/USD Price Analysis: Falling wedge confirmation teases bulls above 0.6100

• NZD/USD seesaws around intraday high after crossing the falling wedge resistance.
• MACD backs the bullish chart pattern breakout to suggest buyer’s another battle with the 200-SMA.
• 50-SMA guards immediate upside, seven-week-old horizontal support area restricts downside.

NZD/USD bulls approach the 50-SMA hurdle, after crossing the falling wedge’s resistance line, during Tuesday’s Asian session. In doing so, the Kiwi pair prints the biggest daily gains in over a week during the three-day uptrend, up 0.38% intraday near 0.6115 by the press time.

That said, an upside clearance of the 0.6100 hurdle, now support, confirms the falling wedge bullish chart pattern. Also keeping buyers hopeful are the bullish MACD signals.

However, the 50-SMA level surrounding 0.6135 challenges the immediate advances ahead of the key 200-SMA hurdle near 0.6250.

Following that, the early August swing high near 0.6355 will precede the previous monthly peak of 0.6470 to lure NZD/USD bulls.

Meanwhile, pullback moves remain elusive until staying beyond the resistance-turned-support line near 0.6100.

Even if the NZD/USD prices decline below the 0.6100 round figure, the horizontal area comprising levels marked since mid-July, near 0.6050-60, as well as the lower line of the stated wedge, close to 0.6030 at the latest, could challenge the bears targeting the 0.6000 mark.

NZD/USD: Four-hour chart

Trend: Further upside expected