NZD/USD Analysis: Awaits Federal Fund Rate
|NZDUSD
The New Zealand Dollar has depreciated about 0.64% in valueagainst the US Dollar. The decline was stop by a support level formed by the 200-hour simple moving average at 0.6830.
Everything being equal, it is likely that the currency exchange rate will regain some of its lost positions within this session. The potential upside target will be near a resistance level formed by the 50-hour SMA at 0.6854.
Meanwhile, Wednesday's US Federal Reserve monetary policy might add more pressure to the currency exchange rate.
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