#NZDUSD @ 0.62061 continues an uptrend, gaining 0.56% from Wednesday’s session, trading above the 0.6200 mark.

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• NZD/USD continues an uptrend, gaining 0.56% from Wednesday’s session, trading above the 0.6200 mark.

The pair currently trades last at 0.62061.

The previous day high was 0.6215 while the previous day low was 0.6133. The daily 38.2% Fib levels comes at 0.6164, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6184, expected to provide support.

As the Asian session begins, the NXD/USD resumes its uptrend as the pair finished Wednesday’s session with solid gains of 0.56%. In addition, it formed a two-candlestick bullish engulfing chart pattern, suggesting further upside is expected. The NZD/USD exchanges hands above the 0.6200 figure, gains around 0.07%.

The NZD/USD daily chart portrays the pair trading sideways, trapped between short-term and long-term daily Exponential Moving Averages (EMAs). Even though the Kiwi (NZD) registered gains, unless it climbs above the 200-day EMA at 0.6230 and cracks the last week’s high of 0.6247, it would shift the pair bias upwards.

If NZD/USD clears those areas, the next resistance would be the May 23 high at 0.6302. Buyers are reclaiming that level, and the pair could rally towards the May 11 swing high at 0.6384 before reaching 0.6400. Conversely, the NZD/USD first support would be the 100-day EMA at 0.6196. Once broken, the next floor will be the 50-day EMA at 0.6176, closely followed by the 20-day EMA at 0.6163 and then the 0.6100 mark.

From an oscillator point of view, the Relative Strength Index (RSI), albeit in bullish territory, is almost flat, while the three-day Rate of Change (RoC) suggests the pair is pausing its downtrend.

Technical Levels: Supports and Resistances

NZDUSD currently trading at 0.6206 at the time of writing. Pair opened at 0.6167 and is trading with a change of 0.63 % .

The pair is trading above its 20 Daily moving average @ 0.611, above its 50 Daily moving average @ 0.6177 , below its 100 Daily moving average @ 0.6213 and above its 200 Daily moving average @ 0.6153

The previous day high was 0.6215 while the previous day low was 0.6133. The daily 38.2% Fib levels comes at 0.6164, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6184, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6129, 0.609, 0.6047
• Pivot resistance is noted at 0.621, 0.6254, 0.6292

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