Ella 
NZD/USD has been riding a strong bullish streak during the intraday session on Wednesday, with recent gains reaching 1.28%. The rise in NZD/USD has seen NZD/USD jump above the 100-day and 200-day simple moving averages (SMA), indicating that the outlook for NZD/USD has turned bullish. However, with technical indicators approaching overbought conditions, consolidation is possible.
The relative strength indicator on the daily chart shows that NZD/USD is approaching overbought territory. The clear bullish trend over the past few days and the recent spike suggest that the bulls are strong right now. However, this upward pressure may soon subside, as the Relative Strength Index’s approach to overbought conditions often signals consolidation or a possible reversal.
