NZD – The New Zealand dollar is consolidating within a range, poised for a renewed upward move

The technical charts for the NZD/USD pair show the RSI and Stochastic Oscillator rising, with the 10-day moving average crossing above the 25-day moving average, forming a bullish crossover and suggesting a continued upward trend. Initial support is seen at 0.5760, followed by 0.5670 and then 0.56. Resistance levels are at 0.59 and 0.5950. 0.60 remains a significant psychological level, having failed to break through the highs of 0.5990 on May 6th and 0.5993 on May 29th. A break above this level would likely signal the start of a new upward trend, with targets at 0.6090 and 0.6120.

Forecast range:
Resistance: 0.5900 - 0.5950 - 0.6000** – 0.6090 – 0.6120
Support: 0.5760 - 0.5670 - 0.5600

Key Focus:
Wednesday: New Zealand Q2 Employment Data (06:45)

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