Dukascopy Bank Team
Dukascopy Bank SA
NZD/USD
Bears continue their dominance in the market for the NZD/USD currency pair. During the first part of Thursday's session, the exchange rate tested the 200-hour simple moving average at 0.6863.
If this support level formed by the 200-hour SMA holds, the pair could aim for a re-tests of the weekly R1 at 0.6932.
However, if the pair passes the support line, a potential breakout through the lower boundary of an ascending channel at 0.6843 is likely to occur.
Meanwhile, the US macroeconomic data releases schedule at 15:00GMT could change the overall positioning of the currency exchange rate.
Interested in NZDUSD technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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