The New Zealand Dollar depreciated about 53 base points against the US Dollar on Thursday. The exchange rate almost tested the 200-hour simple moving average at 0.6524 during yesterday’s session.
However, today’s session begins with a bullish momentum, and by the middle of the European trading session on Friday, the currency pair has gained about 0.92% of its lost values.
If this rally continues, the NZD/USD currency exchange rate could target the monthly pivot point at 0.6598 during the following trading session. Meanwhile, the three SMAs have fallen below the price level.
