The decline of the NZD/USD currency pair has been guided by the 50-hour simple moving average.
Currently, the exchange rate is trading near the lower boundary of an ascending trend line at 0.6608. From a theoretical point of view, a pullback towards the 100-hour SMA at 0.6637 could be expected within this session.
However, technical indicators suggest that the currency exchange rate might continue its decline during today’s session. The potential targets for bearish traders could be near the monthly S2 at 0.6558.
