A strong resistance cluster formed by the combination of the 200-hour simple moving average and the weekly PP at 0.6810 pressured the New Zealand Dollar south against the US Dollar.
As for the near future, it is likely that the currency pair could break the resistance of 100-hour SMA at 0.6801 and surge towards the upper boundary of a downtrend line during the following trading session.
On the other hand, the NZD/USD currency exchange rate could reverse from current price level and continue moving down towards a support level formed by the weekly S1 at 0.6745 today.
