NZD/USD analysis: Could edge lower

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar has declined by 50 basis points or 0.82% against the US Dollar on since Thursday's trading session. The 50– hour SMA pressured the currency pair lower.

Everything being equal, the NZD/USD exchange rate could decline within this session. The possible target for bearish traders would be near a support cluster at 0.6048.

However, the weekly R1 and the 100– hour simple moving average at 0.6082 could provide support for the currency exchange rate during the following trading 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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