NZD/USD shows an upward movement

On the hourly chart, the NZD/USD pair is showing an upward movement after a confident reversal from the 0.5880 support level. The price has consolidated above the MA (200) H1 moving average, which indicates that the initiative is shifting to buyers. The 0.6000 level, which previously acted as resistance, now acts as support, confirming the trend change. The current quote is 0.6050, and the nearest resistance is located at 0.6075, followed by a maximum around 0.6090. The MACD indicator is in the positive zone, the histogram maintains steady growth, which indicates continued upward pressure. The overall picture indicates a bullish mood, and if the 0.6075 level breaks, the pair may further strengthen with a target of 0.6090 and higher. In case of a pullback, the 0.6000 zone will act as support.

Resistances are at the marks: 0.6075-90, 0.6120, 0.6150

An alternative scenario: 0.6000, 0.5960, 0.5880

The main scenario of the pair's movement implies a breakout of the session high of 0.6075 and resistance of 0.6090 (June 16 high) and there may be an increase to 0.6120 (Oct 11’ 2024 high) 

An alternative scenario suggests a decline to 0.6000 (June 25 low) and then, maybe, to 0.5960 (June 19 low)