⬤ NZD/USD is holding onto its bullish breakout after buyers stepped in to protect the 0.6000 level during the recent dip. The 4-hour chart shows the pair bouncing from this key psychological zone, confirming that demand remains solid following the break above a previous descending channel. Each time the pair has tested 0.6000, buyers have shown up, keeping the positive structure intact.
⬤ The chart reveals a pattern of higher lows building since December, backed by rising moving averages and improving short-term momentum. Former resistance around 0.5850–0.5900 has now flipped to support, catching dips along the way. This tells us buyers are comfortable stepping in on pullbacks rather than chasing rallies—a healthy sign for any uptrend.
⬤ That said, the rally is hitting a wall near 0.6059. This level lines up with the 88% retracement of the July–November 2025 range, and price has been struggling to push through. While the breakout is still valid, the hesitation here suggests we might see some sideways action as traders digest the recent gains.
⬤ Right now, NZD/USD is trading between two clear levels: support at 0.6000 and resistance at 0.6059. If 0.6000 continues to hold, the bullish case stays alive and further upside attempts are likely. But if 0.6059 keeps capping rallies, expect consolidation before the next real move. Watch how price behaves around these zones—it'll tell us whether this trend has more room to run or needs a breather.
