NZD/USD Analysis: Tests 100-hour SMA

Dukascopy Bank Team Dukascopy Bank SA

NZDUSD

The New Zealand Dollar depreciated about 40 base points against the US Dollar on Tuesday. The decline was stopped by the 100-hour simple moving average at 0.6698.

Everything being equal, if the support level formed by the 100-hour SMA holds, a surge towards the 0.6759 mark could be expected during the following trading session.

If the NZD/USD currency exchange rate passes the support level as mentioned above, a decline towards the 200-hour SMA could be the next target for bearish traders.

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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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