NZD/USD Intraday: pressured by 50– hour SMA

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

The New Zealand Dollar has continued to edge lower against the US Dollar since yesterday's trading session. The currency pair declined by 56 basis points on Thursday.

All things being equal, the NZD/USD will most likely continue to decline in the descending channel pattern during the following trading session. The 50– hour simple moving average could pressure the pair lower.

However, given that the currency exchange rate is trading near the upper boundary of the descending channel pattern, a breakout might occur 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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