NZD/USD Price Forecast: The focus shifts to the 0.5930 resistance area

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NZD/USD extends gains for the second day in a row and nears multi-week highs at 0.5930.
Stronger-than-expected inflation in New Zealand boosts hopes of near-term RBNZ interest rate hikes.
Above 0.5930, the next upside target would be the March 10 high at 0.5965.

The New Zealand Dollar (NZD) appreciates for the second consecutive day against the US Dollar (USD) on Tuesday, fuelled by stronger-than-expected New Zealand inflation figures and a moderate optimism about a resolution of the Middle East conflict. The pair extends its rebound from Monday's 0.5850 lows and trades above the 0.5900, with bulls now aiming for last week's highs in the 0.5930 area.

Data released during Tuesday’s Asian session revealed that New Zealand's inflation pressures, as measured by the Consumer Price Index (CPI), remained steady at a 3.1% year-on-year rate in the first quarter of the year, against market expectations of a decline to 2.9%. Quarter-on-quarter, consumer inflation accelerated 0.9% from 0.6% in the last three months of 2025.

These figures confirm that price pressures remain above the Reserve Bank of New Zealand’s (RBNZ) 1% to 3% targed band, with the risks skewed to the upside, amid the impact of the US-Iran war, feeding hopes of RBNZ rate hikes in the near term.

Technical Analysis

NZD/USD trades at 0.5914 at the time of writing, with technical indicators in the 4-hour chart highlighting a mildly bullish near-term bias. The Relative Strength Index (RSI) around 62 suggests positive but not overextended momentum. The Moving Average Convergence Divergence (MACD) has turned slightly positive, hinting that upside pressure is gradually building.

Initial resistance emerges at Friday's high of 0.5930, followed by the March 10 high at 0.5965, ahead of the 0.6000 psychological level and the late February highs near 0.6015.

On the flip side, Monday's lows at the 0.5850 area are likely to test bearish reversals. A confirmation below that level would increase negative pressure towards the 0.5800 area, which held bears in mid-April.

(The technical analysis of this story was written with the help of an AI tool.)

New Zealand Dollar Price This week

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies this week. New Zealand Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.29%	-0.23%	0.05%	-0.28%	-0.51%	-0.83%	-0.30%
EUR	0.29%		0.06%	0.34%	0.04%	-0.18%	-0.57%	0.02%
GBP	0.23%	-0.06%		0.28%	-0.02%	-0.24%	-0.63%	-0.06%
JPY	-0.05%	-0.34%	-0.28%		-0.33%	-0.51%	-0.91%	-0.33%
CAD	0.28%	-0.04%	0.02%	0.33%		-0.13%	-0.57%	-0.03%
AUD	0.51%	0.18%	0.24%	0.51%	0.13%		-0.32%	0.19%
NZD	0.83%	0.57%	0.63%	0.91%	0.57%	0.32%		0.53%
CHF	0.30%	-0.02%	0.06%	0.33%	0.03%	-0.19%	-0.53%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).