The technical outlook for NZDUSD remains largely unchanged. Since March 20, price action has been confined to a narrow range between 0.8796 and 0.8850—a seven-day stretch of consolidation as traders await a breakout catalyst.

A decisive move beyond either range extreme, accompanied by momentum, will likely signal the next directional push. Moving averages are starting to flatten, reflecting the indecision: the 100-hour MA sits at 0.8828, the 200-hour MA at 0.8815, and the 200-day MA at 0.88099. Price has hovered around these levels throughout the week, highlighting the lack of trend.

To the upside, the 38.2% retracement of the March high-to-low move at 0.8862 is the minimum level that needs to be broken to strengthen the bullish bias. Notably, the March 14 high also stalled near that level, adding to its importance as a resistance zone.

On the downside, a break below 0.8794 would shift focus toward March’s lows at 0.8758 and 0.8755. Last week, sellers attempted to breach that double-bottom but quickly lost momentum, reinforcing the area's significance as support.

For now, buyers and sellers remain in a standoff, awaiting the next shove to define the trend.