NZD/USD Price Analysis: Mild uptrend develops as bears take a breather

• Despite the predominantly bearish trend, NZD/USD exhibits signs of a mild rebound.
• Key resistance is noted at 0.5980, with a substantial support level observed around 0.5760.
• Daily RSI fluctuates under the 50-mark, indicating lasting bearish sentiment, but a recent recovery above 40 shows traces of bullish momentum.

The NZD/USD pair, while majorly sticking to its bearish course, has been showing signs of a mild uptrend over the end of the week and rose to 0.5960. The lows and highs are reaching slightly higher values, which, coupled with the formation of a slight handle-like pattern, indicates a probable bullish rally in the near future.

The daily Relative Strength Index (RSI) has largely been stationed below the mid-point although recent trading sessions have shown some recovery with the index breaching the 40-threshold mark. This incremental shift from the prevalent trend, while indicating ongoing bearish influence, provides a glimpse of potential bullish sentiment in future sessions.