NZD/USD Analysis: slight upside potential likely

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

Bullish sentiment has dominated the New Zealand Dollar against the US Dollar since yesterday's trading session. The currency pair has appreciated about 0.94% in value.

Everything being equal, the NZD/USD exchange rate will most likely continue to edge higher today. The potential target for bullish traders would be near the weekly R1 at 0.6368.

If the resistance level formed by the weekly R1 holds, a brief pullback towards the monthly pivot point at 0.6285 could be expected within 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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