The daily chart reveals a shift in NZD/USD from a bearish to a bullish short-term outlook. Hourly chart indicators echo the bullish trend visible in the daily analysis. Buyers will need to claim dominance over key SMAs to make strides in the market. The NZD/USD rose to around 0.6058, reflecting a 0.41% gain on Tuesday's session.
The MACD histogram on the hourly scale is relatively flat but displays red bars, indicating a mild negative momentum, probably hinting that the bulls are taking profits after the RSI hit overbought conditions earlier in the session. NZD/USD hourly chart Regarding the overall trend, the NZD/USD has demonstrated a significant jump above its 20-day Simple Moving Average , suggesting a bullish shift in the short-term outlook.
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NZD/USD Price Analysis: Bears maintain control, short-term bullish flip on the horizonThe NZD/USD pair is currently trading at 0.5950, showing a 0.50% decrease in the session.
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