NZD/USD made gains in Tuesday's session, rising to the 0.5900 mark.
The pair seems to be entering a consolidation period guiding between the 0.5850 - 0.6000 channel.
The daily RSI escapes the oversold territory, suggesting some cooling off from bearish momentum.
In Tuesday's trading session, the NZD/USD pair advanced upwards to 0.5900, marking a modest recovery of a 0.40% gain. This follows a bearish July, which saw the pair losing over 4% of its value. Traders had to navigate through a barrage of selling signals especially with the bearish crossover of the 20-day Simple Moving Average (SMA) at 0.6050 with the 100-day SMA last week. However, signs now suggest that the pair may be entering a consolidation period.
