NZD/USD analysis: Could edge lower
|NZD/USD
The New Zealand Dollar has declined by 50 basis points or 0.82% against the US Dollar on since Thursday's trading session. The 50– hour SMA pressured the currency pair lower.
Everything being equal, the NZD/USD exchange rate could decline within this session. The possible target for bearish traders would be near a support cluster at 0.6048.
However, the weekly R1 and the 100– hour simple moving average at 0.6082 could provide support for the currency exchange rate during the following trading session.
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