Dukascopy Bank Team
Dukascopy Bank SA
NZD/USD
The New Zealand Dollar maintained the ascending channel pattern against the US Dollar on Wednesday. The currency pair appreciated about 47 base points during yesterday's trading session.
Given that the three SMAs are below the price level, it is likely that the exchange rate could continue to edge higher. The pair could aim for the weekly R2 at 0.6787 within this session.
A potential downside reversal could occur if the weekly R2 at 0.6787 holds 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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