NZDUSD weekly technical outlook: Rally stalls at key resistance

The NZDUSD has been rising for three straight weeks after hitting a low of 0.55758 on November 21. This week, the pair reached a high of 0.5830, a recovery of 254 pips (+4.56%). The recent rally briefly crossed the 100-day moving average at 0.58025 but stalled at critical resistance, particularly near the swing area between 0.5830 and 0.58442, as well as the 50% Fibonacci retracement level at 0.58476. Following this, the price fell below the 100-day average, stopping just above the 38.2% retracement at 0.5783. For a bullish scenario, buyers need to push above 0.5830 and clear the 0.58476 to regain confidence, with targets shifting towards the 200-day moving average at 0.58677. Conversely, a break below 0.5783 would indicate a bearish trend, targeting 0.5753 and subsequently the rising 100-bar moving average on the 4-hour chart at 0.5722. Traders need to stay alert to these dynamics.