NZD/USD is currently consolidating below its recent two-month high, but the overall bullish structure remains intact as price holds above key support levels.

The pair is benefiting from a weaker US Dollar driven by fading Fed rate hike expectations and improved global risk sentiment.

💡 Market Drivers
📉 USD Weakness:
✔ Lower expectations of Fed hawkish policy
✔ Improved geopolitical sentiment (US–Iran peace hopes)

📈 NZD Strength:
✔ Breakout above 0.5920–0.5925 resistance zone
✔ Holding above 200-period SMA support

📊 Technical Outlook
Recent breakout above 0.5925 strengthens bullish momentum and supports further upside potential.

📈 Momentum indicators:
✔ RSI around 65 → strong but not overbought
✔ MACD positive → bullish continuation signal

📊 Key Levels
🔴 Resistance:
0.6000 → Psychological level / 2-month high
🟢 Support:
0.5960 → Immediate support
0.5840 → 200-period SMA (major support)

⚠️ Market Outlook
As long as NZD/USD holds above support zones, bullish continuation remains favored.
👉 A break below 0.5840 would invalidate bullish structure and trigger deeper correction.