NZD/USD analysis:Two scenarios likely

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar has surged by 45 points or 0.68% against the US Dollar since Monday's trading session. The currency pair tested the weekly resistance level at 0.6620 on Tuesday morning.

If the exchange rate breaks the weekly pivot point at 0.6620, a surge towards the 0.6660 level could be expected within this session.

However, if weekly PP holds, the currency exchange rate could continue to trend bearish during the following trading session.

Meanwhile, technical indicators suggest that the NZD/USD pair could continue its downside movement today.

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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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