NZD/USD analysis: Two scenarios likely

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

During Thursday's trading session, the New Zealand Dollar declined by 96 pips or 1.32% against the US Dollar. The currency pair tested the weekly S1 at 0.7147 on Friday morning.

As for Friday's trading session, the NZD/USD exchange rate is likely to continue to edge lower during the following hours. Sellers might target the weekly support level at 0.7063.

However, the weekly S1 at 0.7147 could provide support for the currency exchange rate during 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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