Dukascopy Bank Team
Dukascopy Bank SA
NZD/USD
The New Zealand Dollar surged by 41 pips or 0.63% against the US Dollar on Monday. The currency pair tested the weekly resistance level at 0.6579 during yesterday's trading session.
Everything being equal, the NZD/USD exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be at the 0.6600 level.
However, given that a breakout had occurred through the lower boundary of an ascending channel pattern, a decline towards the 100– hour simple moving average could be expected today.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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