NZD/USD shows steady recovery

On the hourly chart, the NZD/USD pair is showing a steady recovery after the fall that began on June 17 and reached a low of 0.5880 on June 23. From this level, a steady upward movement began, which allowed the price to break through important resistance levels near 0.5960 and 0.6000, as well as to exit above the MA (200) H1 moving average, which now passes near 0.6030 and serves as the nearest support. The price is currently consolidating around 0.6060–80, which indicates a temporary lull after the growth. The MACD indicator shows positive histograms, but they are gradually decreasing, which signals a slowdown in the upward momentum and a possible correction. The nearest resistance is located at 0.6090, and its breakdown will open the way to new highs. In case of a decline, the price may test support near 0.6030, and its breakdown will lead to a move to the 0.6000 area. The overall technical picture remains neutral-positive with signs of overbought conditions at the current stage.

Resistances are at the marks: 0.6080-90, 0.6120, 0.6150

An alternative scenario: 0.6030, 0.6000, 0.5960

The main scenario of the pair's movement implies a breakout of the session high of 0.6080 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 0.6030 (June 26 low) and then maybe to 0.6000 (June 25 low)