NZD/USD Bulls Target 0.6000 After Clearing 200-Day SMA

The NZD/USD pair continued its advance for a third consecutive session, rising past the 0.5850 mark and now testing the 0.5900 handle. A decisive break above the 200-day Simple Moving Average (SMA) has shifted near-term momentum in favor of buyers. Broad-based US Dollar softness and an improvement in global risk sentiment are providing additional tailwinds for the Kiwi.

The clearance of the 200-day SMA, a widely watched technical gauge, reinforces the bullish bias. Immediate resistance is seen at 0.5900, with a sustained move above that level likely to accelerate gains toward the May monthly high. Further upside targets include the psychologically important 0.6000 figure, which bulls are now eyeing.

Traders will be watching for any pullbacks that hold above the SMA as potential entry points, with support now seen around 0.5820-0.5800. The overall tone remains constructive as long as the pair stays above this key moving average.