NZD/USD Analysis: Decline continues

Dukascopy Bank Team Dukascopy Bank SA

NZDUSD

The New Zealand Dollar tested a resistance cluster formed by the combination of the weekly and the monthly pivot points at 0.6724 during the first part of Thursday's trading session.

If the given resistance cluster holds, the exchange rate will aim for a level at 0.6668 within this session.

However, if bulls surpass the resistance cluster as mentioned earlier, the next targets for bullish traders will be near the 100– and 200-hour SMAs at 0.6748.

Meanwhile, technical indicators demonstrate that the decline of the NZD/USD pair will continue today.

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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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