The NZDUSD has made a significant technical move today, climbing above the 200-day moving average for the first time since October 9, 2024. This long-term moving average, currently sitting at 0.5888, had held resistance on a couple of tests yesterday before breaking above the in the Asian Pacific session today:

Earlier today, price surged above the 200-day MA, a key bullish signal.
The rally followed a breakout above the 100-day MA and a sharp upside momentum shift last week. The 100 bar MA on the 4-hour chart, the 200 bar MA on the 4-hour chart and that 100 day MA were all broken near the same level.
The pair is now in the process of retesting the 200-day MA from above — a critical zone to determine whether buyers can maintain control.
A hold above 0.5888 keeps the bullish bias alive and opens the door to further upside toward the 0.5930 level and beyond.
A move back below the 200-day MA would be a setback and could shift momentum back to sellers

Key levels:

Support: 0.5888 (200-day MA), 0.5852 High from 2-weeks ago. 0.5824 (broken 38.2% retracement of the move down from September 2024
Resistance: 0.5930 (50% retracement), 0.5970 to 0.5983 (swing area going back in time) 0.6000 (natural resistance)

This article was written by Greg Michalowski at www.forexlive.com.