• NZD/USD consolidates as the US Dollar remains stable.
• A break above the nine-day EMA at 0.6261 could lead the pair to approach the 0.6300 psychological level.
• A breach below the psychological support of 0.6200 could push the pair to navigate the 38.2% Fibonacci retracement at 0.6167.

NZD/USD displays sideways movement amid a steady US Dollar (USD), trading higher around 0.6240 during the early European hours on Monday. The technical indicator, the 14-day Relative Strength Index (RSI), is positioned above the 50 level, signaling strong momentum. This suggests that the NZD/USD pair could gear up to test the major resistance at 0.6250, followed by the nine-day Exponential Moving Average (EMA) at 0.6261.

A breakthrough above the support region could lead the NZD/USD pair to explore the psychological region around 0.6300 level followed by the weekly high at 0.6329 and the major resistance at 0.6350 level.

On the downside, the GBP/USD pair could find immediate support at the psychological level of 0.6200. If this level is breached, the next level to watch is the 38.2% Fibonacci retracement at 0.6167. Further downside pressure could lead the pair to navigate toward the major support at 0.6150.

The technical analysis for the NZD/USD pair suggests a potential shift in sentiment. The placement of the Moving Average Convergence Divergence (MACD) line above the centerline, coupled with divergence below the signal line, indicates a possible move toward a bearish sentiment. Traders are likely exercising caution and closely monitoring the lagging indicator