NZD/USD Analysis: Tests resistance cluster

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

Bearish momentum dominated the New Zealand Dollar versus the US Dollar on Tuesday, thus sending the currency pair to decline about 100 base points by the end of yesterday's trading session.

However, today's session began with an upside sentiment. By the middle of the European trading session, the exchange rate had recovered about 0.73% of its lost value.

Technical indicators demonstrate that bears will continue to have an upper hand in the market today. The currency exchange rate might aim for a re-tests of the weekly S2 at 0.6687 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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