The New Zealand Dollar traded below the 50-hour simple moving average at 0.6820 against the US Dollar on Monday.
However, the situation changed during the Asian session on Tuesday, as bullish momentum pushed the currency pair towards a resistance level formed by a traditional weekly pivot point at 0.6881.
After hitting the weekly R1 the exchange rate made a brief retracement down. Everything being equal, it is likely that the Kiwi aim at a support level set by the weekly PP at 0.6829 during the following trading session
