NZD/USD treks within the upper boundary of the ascending channel pattern.
The 14-day RSI rises to near 70 level, indicating a potential for correction.
The nine-day EMA at 0.6092 appears as the immediate support for the pair.
NZD/USD continues its winning streak for the fifth successive session, trading around 0.6160 during the early European hours on Thursday. The daily chartanalysis shows that the pair treks upwards within the upward boundary of the ascending channel, reinforcing the bullish bias.
Additionally, the 14-day Relative Strength Index (RSI) is positioned slightly below the 70 level, suggesting a confirmation of the bullish sentiment. Further movement will indicate currency pair overbought and a potential correction in the short term.
The nine-day Exponential Moving Average (EMA) is positioned above the 50-day EMA, indicating that the NZD/USD pair is experiencing upward momentum in the short term and continues to rise.
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