• The daily RSI shows minor buying traction, further validation is needed.
• The hourly chart reveals growing buying momentum with RSI hitting overbought terrain.
• Buyers finally recovered the 20-day SMA, which brightens the outlook for the short term.

The NZD/USD rose to 0.5961, displaying a rally of 0.56% and jumping above the key short-term 20-day Simple Moving Average (SMA) on Thursday which now indicates a potential bullish bias. However, the broader trend remains bearish. With the intense increase in buying traction on an hourly scale, buyers might take some profits ahead of the Asian session