Following a strong rally, NZDUSD is now retesting the former resistance of its trading range, which has turned into support. This creates an opportunity for the bullish trend to continue.
The U.S. Dollar Index has broken its recent market structure, and continued dollar weakness could provide additional support for the pair

From a technical perspective, NZDUSD is performing a classic support retest within its countertrend recovery, while buyers are actively defending the 0.5863 level. Sustained consolidation above this trigger could become the catalyst for another bullish impulse

Resistance levels: 0.5908, 0.6000
Support levels: 0.5863, 0.5825

As long as price remains above 0.5863, the pair has the potential to extend its recovery, supported by the current weakness in the U.S. Dollar Index

Best regards,
R. Linda