Today the NZD/USD pair continues to attract buyers, though it still remains below the 0.6050 level. Oscillators across all timeframes are firmly in positive territory and far from overbought zones, confirming the positive outlook for the pair. Nevertheless, it would be prudent to wait for strong buying momentum above the 0.6050 resistance before opening new long positions. A subsequent upward move would lift the NZD/USD pair toward resistance around 0.6080 — a confluence of key moving averages — on the way to the psychological level of 0.6100.
On the other hand, a drop below the psychological level of 0.6000 can be seen as a buying opportunity, but it remains limited to the 0.5950 level or Monday's swing low. A decisive break below these lows would negate the short-term positive outlook, triggering aggressive selling and paving the way for a much deeper decline. However, as long as oscillators across all timeframes stay in positive territory, the path of least resistance for the NZD/USD pair remains to the upside.
