NZD/USD Analysis: reveals new junior channel
|NZD/USD
The New Zealand Dollar appreciated by 33 basis points against the US Dollar during Monday's trading session. The currency pair has revealed a new junior descending channel pattern.
The junior descending channel will most likely guide the NZD/USD exchange rate lower today. Bearish traders could aim at a psychological support level at the 0.6260 area.
However, technical indicators suggest that the currency exchange rate might trade sideways within the next trading session.
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