NZD/USD Extends Recovery but Overhead SMAs Limit Gains

NZD/USD remained on the front foot on Friday, heading for its second straight weekly gain. The Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) by 25 basis points on Wednesday and signaled further tightening may be needed, which supported the New Zealand dollar.

However, recovery attempts face overhead resistance from simple moving averages (SMAs), which are capping further upside. The pair's ability to break above these levels will be key for sustained gains.