NZD/USD analysis: Target at 0.6703

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar declined by 59 basis points or 0.88% against the US Dollar on Thursday. The currency pair breached a support cluster at 0.6661 during Thursday's trading session.

Bearish traders are likely to pressure the exchange rate lower during the following trading session. The potential target for bears would be near the weekly S2 at 0.6602.

On the other hand, the currency exchange rate could reverse from the current price level at 0.6667 and target the upper line of a downtrend channel within this 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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