The New Zealand Dollar depreciated about 66 base points against the US Dollar on Wednesday. The decline was stopped by a support level formed by the weekly pivot point at 0.6816.
If this support level continues to hold within this session, buyers could push the exchange rate towards the weekly R1 at 0.6911.
On the other hand, if the currency exchange rate passes the weekly PP at 0.6834, the next target for bearish traders will be at a support level set by the weekly S1 at 0.6775 in the nearest future.
