NZD/USD begins the day with no changes
|The New Zealand Dollar accelerated against the US Dollar on Friday thus allowing the currency pair to gained 104 pips or 1.55%. However, the pair still maintained the trading range for last week.
By the middle of Monday's trading session, the exchange rate was located near the upper boundary of a downtrend line and could be set for a breakout.
Technical indicators flash bullish signals today. This means that the Kiwi could eventually break out from the aforementioned upper border. Furthermore, given that the three SMAs are located below the price action, upside risk is likely to prevail during the following trading session.
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