Buyers defended the 100-hour moving average at 0.5948, pushing NZDUSD toward resistance at Friday’s highs and a descending trendline.
The NZDUSD pair reversed early losses during the Asian-Pacific session, bouncing from the 100-hour moving average at 0.5948 as buyers stepped in. The support level, which has trended higher, held firm despite multiple tests, encouraging a rebound to 0.5967 in North American trading.
The pair now faces resistance near Friday’s highs and a downward-sloping trendline from last week’s peaks. A break above this zone would target last week’s highs between 0.5983 and 0.5990, potentially extending gains toward February’s highs. Downside risks remain if the pair falls below the 100-hour moving average.