NZD/USD Price Bulls Gain Control and Close Week Above Key Resistance

Friday, 5 July 2024, 21:43

The NZD/USD pair experienced a 0.40% gain, reaching 0.6050 and showing strength by closing above the crucial 20, 100, and 200-day Simple Moving Averages (SMA). This signals a shift in control to the bulls, reinforcing their stance in the market.
FXStreet
NZD/USD Price Bulls Gain Control and Close Week Above Key Resistance

NZD/USD Price Analysis

The NZD/USD pair recorded a 0.40% gain, closing the week at 0.6050, surpassing the key resistance levels.

Moving Averages

  • Bulls gain control as the price closes above the 20, 100, and 200-day SMAs.

Market Strength

  1. Bulls showing dominance
  2. Positive price momentum indicating bullish sentiment

Conclusion: The NZD/USD pair displays a bullish outlook with the price closing above significant resistance levels, suggesting potential further upside in the market.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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