NZD/USD Analysis: Awaits Federal Fund Rate

Dukascopy Bank Team Dukascopy Bank SA

NZDUSD

The New Zealand Dollar has depreciated about 0.64% in valueagainst the US Dollar. The decline was stop by a support level formed by the 200-hour simple moving average at 0.6830.

Everything being equal, it is likely that the currency exchange rate will regain some of its lost positions within this session. The potential upside target will be near a resistance level formed by the 50-hour SMA at 0.6854.

Meanwhile, Wednesday's US Federal Reserve monetary policy might add more pressure to the currency exchange rate.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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