NZD/USD Analysis: breached 200– hour SMA

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar depreciated by 53 basis points against the US Dollar on Friday. The currency pair breached the 200– hour simple moving average at 0.6672 during Friday's trading session.

Everything being equal, the NZD/USD exchange rate will most likely continue to edge lower. Bears could drive the price towards the weekly S1 at 0.6619 during the following trading session.

However, the monthly pivot point at 0.6636 could provide support for the currency exchange rate within this session.

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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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