The NZDUSD is trading higher by around 0.50% on the day at 0.5919, with buyers maintaining the upper hand after the pair shifted its short-term technical bias to the upside late last week.
On Friday, the price moved back above both its 100-hour moving average at 0.5872 and 200-hour moving average at 0.58757
Reclaiming those key moving averages tilted the short-term bias in favor of the buyers and turned attention toward the late-July/early-August swing highs near 0.59066. In trading today, the NZDUSD extended above that 0.59066 level, adding to the bullish momentum. The move higher, however, has run into the next important resistance zone — a swing area dating back to early April between 0.59187 and 0.59280.
The high so far has reached 0.5925, putting the pair squarely within that resistance area but still short of a clean breakout. The subsequent pullback during the early North American session took the price back toward the former resistance at 0.59066, but buyers stepped in ahead of that level. That is a positive technical development.