The NZD/USD pair extended its gains for a third consecutive session on Thursday, climbing to a high of 0.6300 before settling around 0.6250. However, the quick rejection near the peak suggests that the buying momentum might be losing strength.
The technical indicators are showing mixed signals. The Relative Strength Index (RSI) has risen to 68, indicating that the pair is nearing overbought territory, which could invite selling pressure. Additionally, the Moving Average Convergence Divergence (MACD) is almost flat, suggesting a potential weakening in upward traction.
The key resistance level for NZD/USD is at 0.6250. If the pair consolidates above this mark, it could advance toward 0.6270 and possibly revisit 0.6300. Conversely, immediate support is seen in the 0.6230-0.6200 range.
