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The NZD/USD currency pair extended its recent bullish momentum, advancing roughly 0.50% on the session to reach around 0.5919. This upside follow-through builds on a technical shift that started late last week when the exchange rate managed to reclaim both its 100-hour moving average at 0.5872 and 200-hour moving average at 0.58757. The move cleared the path for buyers to push past former swing highs from late July and early August around 0.59066. Despite the clear buying interest, the rally encountered a key technical barrier, entering an important resistance zone established in early April between 0.59187 and 0.59280. The pair touched an intraday high of 0.5925 before stalling and undergoing a mild pull-back. Importantly for market bulls, the retreat held firmly above the former resistance level at 0.59066, indicating that previous supply is currently acting as solid intraday support. Looking ahead, traders are focused on whether NZD/USD can generate enough momentum to break cleanly above the 0.59280 technical threshold. A decisive break above this zone could unlock additional upside scope toward late-May peaks near 0.5993. Conversely, if buyers fail to hold the 0.59066 support level, short-term bullish momentum could fade, dragging the pair back into a neutral or range-bound consolidation phase.
