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fxJul 24, 2026, 7:24 PM

NZD/USD tests 0.5800 as bullish momentum fades

The New Zealand dollar rose over 0.30% against the US dollar, nearing the 50-day SMA at 0.5793, but signs of fading bullish momentum cloud the push toward the 0.5800 round number.

NZDUSD

The NZD/USD pair advanced more than 0.30% during the session, trading at 0.5789 after bouncing off its daily lows.

The rally brings the pair within striking distance of the 0.5800 psychological level, where the 50-day simple moving average (SMA) currently rests at 0.5793. A clean break above that zone would open the door to further gains.

However, the initial surge appears to be losing steam. Fading bullish momentum suggests the pair may struggle to sustain a breakout, leaving near-term direction uncertain as it tests this key resistance area.

Source: FXStreet Forex News