NZD/USD Analysis: Might still edge higher

Dukascopy Bank Team Dukascopy Bank SA

NZDUSD

Upside risks dominated the New Zealand Dollar versus the US Dollar on Wednesday. The currency pair appreciated about 63 base points during yesterday's trading session.

The exchange rate breached the 50.00% Fibonacci retracement level at 0.6585 during the European trading session on Thursday.

Most likely, the currency exchange rate will aim for the 61.80% Fibo level within this session.

However, technical indicators demonstrate that the NZD/USD pair might edge lower 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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