Ella 
NZD/USD rebounded to 0.5980 on Monday before stabilizing around 0.5960, although the bearish outlook remains. While recent action has shown increased buying momentum, NZD/USD is trading below the key simple moving average (SMA), indicating a bearish bias. As long as NZD/USD remains below this level, the outlook remains Will favor the bears.
On the daily chart, the RSI points to a bullish trend for NZD/USD. The Relative Strength Index is moving from oversold territory towards the midpoint, indicating increasing buying momentum. The Moving Average Convergence and Divergence (MACD) histogram shows that the green bar is flat, indicating that buyers dominate the market and the momentum is stable and improving, but it warns that buying momentum will level off.
