Market Analysis: NZD/USD Starts Recovery, Key Hurdles AheadNew Zealand Dollar vs US DollarFXOPEN:NZDUSDFXOpenMarket Analysis: NZD/USD Starts Recovery, Key Hurdles Ahead NZD/USD is also rising and could aim for a move above 0.5900 in the short term. Important Takeaways for NZD/USD Analysis Today - NZD/USD is slowly moving higher above 0.5830. - There is a major bearish trend line forming with resistance at 0.5870 on the hourly chart of NZD/USD. NZD/USD Technical Analysis On the hourly chart of NZD/USD, the pair followed AUD/USD. The New Zealand Dollar formed a base above the 0.5800 level and started a recovery wave against the US Dollar. The pair climbed above the 50-hour simple moving average and 0.5830. There was a close above the 23.6% Fib retracement level of the downward move from the 0.5990 swing high to the 0.5830 low. However, the bears are now active near the 0.5870 zone and a major bearish trend line. The NZD/USD chart suggests that the RSI is back above 60, signaling a positive bias. On the upside, the pair is facing resistance near 0.5870. The next major hurdle for buyers could be near the 50% Fib retracement at 0.5895. A clear move above 0.5895 might even push the pair toward 0.5910. Any more gains might clear the path for a move toward the 0.5945 pivot zone in the coming sessions. On the downside, there is support forming near the 0.5830 zone. If there is a downside break below 0.5830, the pair might slide toward 0.5800. Any more losses could lead NZD/USD into a bearish zone to 0.5740. 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.