NZDUSD tests key swing area resistance as buyers push higher after holding MA support | Forexlive

The NZDUSD is pushing toward the top of a key swing area, testing resistance near 0.6000, which sits just below the 2024 high. This marks the 11th test of this zone, and the pair continues to find sellers on approaches, keeping the ceiling well-defined. Nevertheless, a break above would target the high from 2025 at 0.60281.

The move to the upside was helped over the last few days by support holding.

• Last Thursday, buyers leaned against a rising trend line, which held support and helped set the stage for the current bullish move.
• On Friday, and at the start of trading on Monday, the price corrected down to the 100-hour moving average and found support buyers. Bullish
• Today, the low price held above both the 100-hour moving average and the 100-bar moving average on the 4-hour chart—a dual technical confirmation that invited fresh upside interest. Bullish

While momentum has carried the pair back to recent highs, the area between 0.5994 and 0.6000 remains a stubborn barrier. A break above this zone would likely trigger stops and open the door toward a retest of the 2024 high near 0.6028.

On the downside, watch for support at:

• 0.5960–0.5950 (near short-term swing lows),

• Followed by the 100-hour MA and trend line support near 0.5920.

Key technical levels:

• Resistance: 0.6000 (high of swing area), 0.6028 (2024 high)

• Support: 0.5979 (low of swing area) then 0.5949 – 0.5953 (cluster of moving averages including 100 hour, 100 bar on the 4 hour chart, and 200 hour moving averages)

• Bias: Bullish above moving averages a breakout above 0.6000 and the high for the year strengthens the upside case

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