NZD/USD Price Analysis: Bulls assert dominance, closes its best week of 2024

• The daily chart reveals a strong bullish sentiment with indicators deep in positive territory.
• Hourly indicators show a flattening buying traction but remain positive.
• The pair closed its best week since November 2023.

In Friday’s session, the NZD/USD rose to the 0.6137 level, demonstrating a strong bullish trend. After closing above its main Simple Moving Averages (SMAs) of 20,100 and 200 days, the pair secured its best week since late 2023.

On the daily chart, the Relative Strength Index (RSI) reveals a positive trend, moving from below 60 and nearing the 70 mark. This indicates that the NZD/USD pair is accumulating strength, demonstrating bullish pressure in the recent sessions. Concurrently, the Moving Average Convergence Divergence (MACD) prints green bars, showing steady buying traction.