The NZD/USD chart is currently displaying an overall bullish momentum. However, price is heading into a key resistance barrier and could potentially hinder further upward movement.
Resistance Levels:
The 1st resistance at 0.6279 is identified as a "Pullback Resistance", implying its potential to impede upward price movements. Additionally, the 2nd resistance level at 0.6386 is characterized as a "Multi-swing-high Resistance" indicating its role as a substantial obstacle to further advances.
Support Levels:
On the support side, the 1st support at 0.6107 serves as an "Overlap Support". This level suggests an area where buying interest may emerge, potentially providing some support to the price. Similarly, the 2nd support at 0.6046 is also classified as an "Overlap Support" highlighting its significance as a substantial support zone.
