Rises to near 0.5950 after breaking above nine-day EMA

NZD/USD could target the rectangle’s upper boundary around 0.6020, followed by the six-month high of 0.6038. The 14-day RSI has climbed above the 50 level, hinting at a developing bullish bias. A break below the nine-day EMA of 0.5929 would weaken the short-term price momentum. The NZD/USD pair holds gains after registering approximately 1.50% gains in the previous session, trading around 0.5940 during the European hours on Wednesday. The technical analysis of the daily chart indicates a neutral stance, as the pair continues to consolidate within a rectangular range. However, the 14-day Relative Strength Index (RSI) has climbed above the 50 level, hinting at a developing bullish bias. Moreover, the NZD/USD pair remains above the nine-day Exponential Moving Average (EMA), pointing to strengthening short-term upward momentum. The NZD/USD pair could target the rectangle’s upper boundary around 0.6020, followed by the six-month high of 0.6038, last seen in November 2024. A break above this crucial resistance zone could open the doors for the pair to explore the region around the seven-month high near 0.6350, recorded in October 2024. On the downside, the NZD/USD pair may test its initial support at the nine-day EMA of 0.5929. A break below this level would weaken the short-term price momentum and put downward pressure on the pair to retest the initial support at the lower boundary of the rectangle around 0.5850, aligned with the 50-day EMA at 0.5843. A sustained move below this key support zone could further deteriorate medium-term momentum, potentially exposing the pair to a deeper decline toward 0.5485 — a level last seen in March 2020. NZD/USD: Daily Chart New Zealand Dollar PRICE Today The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the US Dollar. The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote). Source: https://www.fxstreet.com/news/nzd-usd-price-forecast-rises-to-near-05950-after-breaking-above-nine-day-ema-202505140807