NZD/USD Analysis: pressured by 50– hour SMA

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar has appreciated about 44 basis points against the US Dollar since yesterday's trading session. The 50– hour simple moving average has continued to guide the currency pair higher during this period.

As for the near future, the exchange rate will continue to edge higher. The potential target for the pair will be near a resistance level formed by the weekly R3 at 0.6624.

Although, Friday's macroeconomic data releases scheduled at 12:30 GMT could play an important role in the movement of 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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