Ella 
NZD/USD has gained for a third consecutive session, trading higher around 0.5930 during Monday’s Asian session as the greenback retreated. The pair found upside support as the likelihood of the U.S. Federal Reserve (Fed) keeping interest rates unchanged at its upcoming September meeting became less likely.
The Moving Average Convergence Divergence (MACD) remains below the midline but above the signal line. This configuration suggests that recent market momentum has been relatively subdued and the trend has been sideways.
NZD/USD may find initial support at the confluence of last week’s bottom at 0.5859 and the psychological 0.5850 mark. A decisive break below this level could lead to further downside, with NZD/USD bearish targets targeting the area around the 0.5800 psychological level.
On the upside, important resistance for NZD/USD is the 21-day exponential moving average (EMA) at 0.5947, which is closely linked to the psychological 0.5950 level.
If NZD/USD manages to break above this level, it could open the door to further upside, with the next target being the area around the 23.6% Fibonacci retracement level at 0.5980.
In the near term, the NZD/USD pair maintains a bearish outlook as long as the 14-day relative strength index (RSI) remains below the 50 level. This suggests that the pair will continue its downward trend.
