The New Zealand Dollar has been trading in a horizontal channel pattern against the US Dollar.
Everything being equal, it is likely that the NZD/USD currency pair will continue the decline during the following trading session. The potential targets for bearish traders will be at 0.6528.
However, the US Federal Reserve’s Chairman Jerome Powell is due to deliver the opening remarks at the Fed’s System Community Development Research Conference in Washington at 12:30 GMT, this could play a significant role in the currency exchange rate movement today.
