NZD/USD Price Forecast: Tests barrier at nine-day EMA near 0.6200

• NZD/USD could encounter immediate resistance around the nine-day EMA at the 0.6203 level.
• The 14-day RSI remains above the 50 level, confirming the overall bullish trend.
• The immediate support appears around the 14-day EMA at 0.6180 level, aligned with the lower boundary.

NZD/USD holds its position around 0.6200 during the European hours on Thursday. On the daily chart, the pair is trekking above the lower boundary of the ascending channel, supporting a bullish bias. A break below the lower boundary would weaken the bullish bias.

The 14-day Relative Strength Index (RSI) remains above the 50 level, confirming the overall bullish trend. Additionally, the nine-day Exponential Moving Average (EMA) is positioned above the 14-day EMA, signaling that the NZD/USD pair is experiencing short-term upward momentum and is likely to continue rising.

On the upside, the NZD/USD pair may encounter immediate resistance around the nine-day EMA at the 0.6203 level, followed by the seven-month high of 0.6247, recorded on August 21. A break above this level could lead the pair to test the upper boundary of the ascending channel at 0.6330.

In terms of support, the NZD/USD pair may find immediate support at the 14-day EMA at 0.6180 level, aligned with the lower boundary of the ascending channel around the 0.6170 level. A break below this level could weaken the bullish bias and lead the pair to navigate the area around the psychological level of 0.6100.

NZD/USD: Daily Chart