NZDUSD Analysis: Moving towards target
|NZDUSD
No changes occurred in the overall positioning of the NZD/USD exchange rate. Lack of outside pressure resulted in the pair trading sideways along a narrow descending channel pattern.
The Kiwi failing to pick up bullish momentum during Friday's trading session allows traders to think that the bearish sentiment could continue to dominate the currency pair within this session.
By and large, it is likely that the currency exchange rate continues moving down along the 55-hour simple moving average and for a potential target at the weekly pivot point near the 0.6550 mark today.
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