The RSI is in positive territory with a rising slope, suggesting that buying pressure is increasing
If the bulls secure the 20-day SMA at 0.6185, it could confirm a recovery of the buying traction.
In Thursday's session, the New Zealand Dollar appreciated against its US counterpart, recovering from the previous session's decline. The NZD/USD pair moved up by 0.75% to a high of 0.6180, as the bulls took control of the market.
The Relative Strength Index (RSI) is currently at 55, which is in positive territory and has a rising slope, suggesting that the bulls are gaining momentum. The Moving Average Convergence Divergence (MACD) printed decreasing red bars, a sign of a potential reversal in the bearish momentum. This is aligned with the recent price action, which shows the bulls are pushing back.
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