NZD/USD Analysis: moving towards weekly S1
|NZD/USD
The NZD/USD exchange rate traded with low volatility on Wednesday. The New Zealand Dollar made a 25-pip movement against the US Dollar during Wednesday's trading session.
The currency pair will likely continue to maintain the descending channel pattern within this session. Bearish traders could target the weekly S1 at 0.6572 in the shorter term.
Although, the currency exchange rate might make a U-turn from the current price level at 0.6592 and aim for the 200– hour simple moving average at 0.6615 during the following trading session.
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