The NZD/USD currency pair continued its upward trajectory on Monday, climbing 0.30% to reach 0.6015. Technical indicators suggest a strengthening bullish trend, with the potential for further gains towards the 0.6040 level.

The Relative Strength Index (RSI) has moved above the 50 level, indicating growing bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) is displaying increasing bullish signals, supporting the overall upward trend.

Chart Outlook

On the daily chart, the immediate resistance for the NZD/USD pair is situated at 0.6040. A successful breach of this level, coupled with a sustained move above the 200-day Simple Moving Average (SMA), could open the door for a more significant rally towards 0.6100 and potentially 0.6150.

On the downside, support levels are found at 0.5970 (20-day SMA) and 0.5900. A breakdown below the 0.5900 mark could signal a potential reversal of the current bullish trend.