Dukascopy Bank Team
Dukascopy Bank SA
NZD/USD
The New Zealand Dollar has declined by 39 pips or 0.64% against the US Dollar since Friday's trading session. The currency pair breached the lower boundary of an ascending channel pattern on Monday morning.
Given that a breakout had occurred, the NZD/USD exchange rate could continue to edge lower within this session. The target would be near a support cluster at the 0.6050 area.
A potential upside reversal could occur from the support cluster formed by the monthly and the weekly PPs and the 200– hour simple moving average during the following trading session.
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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