The 4-hour chart for NZDUSD shows that the pair is building a positive structure above support at 0.5870. A break above 0.5970 in the short term could open the path toward 0.6140. Recently, the pair has been consolidating in a tight range while searching for direction.
However, the strong rebound from long-term support at 0.5560, followed by sustained strength above 0.5870, suggests that the next move in NZDUSD is likely to be higher.
