NZD/USD Intraday Signal: Upside Prevails Above 0.5802
Analysis:
NZD/USD maintains a bullish intraday structure as long as price holds above the pivot support at 0.5802. Buyers remain firmly in control, targeting 0.5825 initially and the primary upside objective at 0.5839 in extension. Price action continues to respect higher support levels, confirming a constructive short-term trend.
Momentum indicators clearly support the bullish scenario. The RSI trades above its neutral 50 level, while the MACD is above its signal line and positive, confirming a strong bullish configuration. In addition, price remains above both the 20- and 50-period moving averages, reinforcing the validity of the upward bias and increasing the probability of continuation toward higher resistance zones.
Alternatively, a break below 0.5802 would weaken the bullish setup and expose downside levels at 0.5789 and 0.5782, where demand may attempt to stabilize price.
Trade Setup:
Enter: Long above 0.5802
Stop-Loss (SL): 0.5789
Target A: 0.5825
Target B: 0.5839
