The NZDUSD is experiencing new session highs, with a 1.09% increase for the day. This marks the 3rd consecutive gain and the 5th in the last 6 trading days. From the April 26 low of 0.6111, the price has risen by 186 pips to 0.6297. On the daily chart, the price has moved above its 100-day moving average , currently at 0.62778. On April 13 and 14, the price briefly surpassed the moving average but failed to maintain it, closing below the level. A close above the moving average today would be the first since April 5.
Examining the hourly chart below, the next target is the swing highs from April 13 and 14 near 0.63134. Surpassing this level could lead to further upward momentum, with swing highs from April 5 reaching up to 0.6333 and 0.6376.
On the downside, in addition to the 100-day moving average (at 0.6278,, a support area between 0.6263 and 0.6273 should be maintained for buyers to remain in control (yesterday's high of 0.6259 can be disregarded).
Overall, buyers are currently making a move above the 100-day moving average. That break should not be overlooked.
