The New Zealand Dollar depreciated about 51 base points against the US Dollar on Friday. The currency pair revealed a new junior descending channel during the end of the previous trading session.
However, today’s session begins with a strong bullish momentum, and by the middle of the trading day, the exchange rate has regained 64 base points of its lost positions.
As for the near future, it is likely that the NZD/USD currency exchange rate makes a brief retracement down towards last week swing low of 0.6860 within the following trading hours.
