The (NZDUSD) declined slightly during its recent intraday trading, as the price took a breather to secure profits from its recent gains. This also seems to be an attempt to ease the clear overbought condition indicated by the Relative Strength Index (RSI), especially with early signs of a bearish overlapping beginning to emerge, which makes the price regain bullish momentum that could help it resume its upside movement.
This comes after breaching the key resistance level of 0.5940 in yesterday’s trading and it remained above it until now, with the full dominance of the main bullish trend on the short-term basis.
