The NZDUSD moved higher following the weaker-than-expected US CPI report, which triggered broad USD weakness and lifted the pair toward the highs for the week. However, the rally lost steam just as price tested the upper end of the recent range, failing to break through resistance near 0.6070.
Technically, the dip earlier in the day found solid support at the rising 200-hour moving average (now at 0.60225). Buyers leaned against the level and pushed the pair higher, reinforcing its importance going forward. The 100-hour MA just above also adds to the short-term support zone.
With bullish momentum fading near the highs, traders now face a key technical crossroad. Will buyers regain control and push through the weekly ceiling toward the 2025 high, or will a break below the moving averages tilt the bias back to the downside?
📈 Watch the video for a full technical breakdown, key levels, and the next steps for NZDUSD.
