Dukascopy Bank Team
Dukascopy Bank SA
NZDUSD
Upside risks dominated the New Zealand Dollar against the US Dollar on Tuesday. The currency pair appreciated about 40 base points during the end of yesterday's session.
Currently, the exchange rate is trading near the upper boundary of a two-week ascending channel and a resistance cluster formed by the weekly and the monthly PPS at 0.6596 and could be for a breakout.
If the resistance cluster as mentioned above holds, the NZD/USD could make a brief retracement south towards the weekly R1 at 0.6554 during the following trading session.
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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