NZD/USD
The New Zealand Dollar has depreciated about 0.96% in value against the US Dollar since yesterday's trading session. The decline started after the currency pair tested a resistance cluster formed by the 50– hour simple moving average and the monthly pivot point at 0.6380.
As for the near future, the NZD/USD exchange rate might make a brief retracement towards the weekly S1 at 0.6356.
If the resistance line holds, bearish traders could continue their dominance in the market 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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