NZD/USD shows steady upward trend

On the hourly chart, the NZD/USD pair is showing steady upward dynamics, while quotes continue to update local highs and are trading near the level of 0.6120. The current growth is accompanied by a gradual increase in the lows, which indicates a strong bullish momentum. The price has confidently gained a foothold above the important resistance in the area of 0.6085–0.6075, which now acts as support. The MA (200) H1 moving average is turned up and is below the current price, confirming the predominance of the uptrend. The MACD indicator is in the positive zone, the histogram is expanding, which signals continued pressure from buyers. The immediate target for continued growth is the 0.6150 level, while a return to 0.6075 may weaken the bullish sentiment. Overall, the technical picture remains positive and indicates the continuation of the upward momentum, supported by short- and medium-term trends.

Resistances are at the marks: 0.6120, 0.6150, 0.6200

An alternative scenario: 0.6075-85, 0.6030, 0.6000

The main scenario of the pair's movement implies a breakout of the session high of 0.6120 (Oct 11’ 2024 high) and there may be an increase to 0.6150 (Oct 8’ 2024 high)

An alternative scenario suggests a decline to 0.6075-85 (June 16-17 and 26-27 highs) and then, maybe, to 0.6030 (June 26 low)