FX.co ★ glow_with_mouchi | NZD/USD

After reviewing the current 30-minute NZD/USD chart, my personal view remains cautiously bullish. While the pair has already experienced a decent upward move over the past few sessions, I don't believe buyers have exhausted their momentum yet. Instead, I see the recent consolidation as a healthy pause before another potential push toward higher resistance levels One of the first things that caught my attention is how price has continued to respect the short-term moving averages. The 20-period moving average is still positioned above the 50-period moving average, suggesting that buyers remain in control of the immediate trend. Every small pullback has attracted fresh buying interest rather than aggressive selling, which usually indicates confidence among short-term market participants. The Bollinger Bands also provide an interesting perspective. Instead of showing signs of an overextended breakout, the bands have narrowed slightly while price continues to trade near the upper half of the range. In my experience, this type of behavior often precedes another expansion in volatility, especially when the overall trend remains intact. As long as the pair holds above the recent support around 0.5657, I think the bullish scenario remains the higher-probability outcome Looking at the momentum indicators, the RSI is hovering close to the neutral 50 level. Some traders may interpret this as a lack of momentum, but I actually see it differently. An RSI around the midpoint after an upward trend often suggests that the market has successfully worked off overbought conditions without experiencing a significant decline. That creates room for buyers to step back into the market if fresh momentum appears. The MACD is another indicator I am monitoring closely. Although momentum has slowed compared to the previous impulse, the indicator does not yet show strong bearish acceleration. Instead, it appears relatively flat, which is consistent with a consolidation phase rather than the beginning of a meaningful reversal. If the MACD lines begin to separate upward again, that would strengthen my bullish conviction From a price action perspective, I also appreciate how the market has been producing relatively higher lows during recent sessions. Even when sellers manage to push prices lower, those declines have been limited and quickly absorbed. That behavior tells me that demand is still present beneath the market. My immediate upside targets are located near 0.5702 followed by 0.5714, both of which coincide with the resistance levels highlighted on the chart. I expect these areas to attract profit-taking, so I would not be surprised to see temporary hesitation once price reaches them. However, if buyers can generate enough momentum to break above 0.5714 with convincing volume, it could open the door for an even stronger continuation beyond the levels currently projected On the downside, the key level I am watching remains 0.5657. A sustained move below this support would weaken my bullish outlook and suggest that the consolidation is evolving into a deeper correction. Until that happens, I believe buying on controlled pullbacks offers a more attractive risk-reward profile than attempting to sell against the prevailing trend.