NZD/USD analysis: Could target 200– hour SMA

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar has surged by 42 basis points or 0.64% against the US Dollar since Monday's trading session. The currency pair breached the 50– and 100– hour SMAs on Tuesday morning.

All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for the NZD/USD pair will be at the 0.6631.

However, the weekly pivot point at 0.6610 could provide resistance for the currency exchange rate in the nearest future.

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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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