The New Zealand Dollar depreciated about 63 base points of its values against the US Dollar on Friday. The currency pair was pressured south by the 50,-100-, and 200-hour SMAs during the previous session.
However, Monday’s trading session begins with a strong bullish momentum, and by the middle of the day, the exchange rate has gained about 59 base points of its values.
Everything being equal, it is likely that the NZD/USD currency exchange rate continues its upward movement.
The potential target the price will be at the upper boundary of a downtrend line at 0.6827.
