Market Analysis: NZD/USD Flash Early Signs of Bullish RecoveryNew Zealand Dollar vs US DollarFXOPEN:NZDUSDFXOpenMarket Analysis: NZD/USD Flash Early Signs of Bullish Recovery NZD/USD is consolidating and could aim for a move above 0.6000 in the short term. Important Takeaways for NZD/USD Analysis Today - NZD/USD is consolidating above 0.5965 and 0.5950. - There was a break above a declining channel with resistance at 0.5960 on the hourly chart of NZD/USD. NZD/USD Technical Analysis On the hourly chart of NZD/USD, the pair also followed AUD/USD. The New Zealand Dollar failed to stay above 0.6020 and corrected gains against the US Dollar. The pair dipped below 0.5965 and the 50-hour simple moving average and 0.5830. A low was formed at 0.5937, and the pair is now attempting to recover losses. There was a move above the 50% Fib retracement level of the downward move from the 0.6052 swing high to the 0.5937 low. Besides, there was a break above a declining channel with resistance at 0.5960. The NZD/USD chart suggests that the RSI is above 50, signaling a short-term positive bias. On the upside, the pair is facing resistance near 0.6010. The next major hurdle for buyers could be near the 76.4% Fib retracement at 0.6025. A clear move above 0.6025 might even push the pair toward 0.6050. Any more gains might clear the path for a move toward the 0.6122 pivot zone in the coming sessions. On the downside, there is support forming near 0.5965 and the 50-hour simple moving average. If there is a downside break below 0.5965, the pair might slide toward 0.5940. Any more losses could lead NZD/USD into a bearish zone to 0.5900. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.