The New Zealand Dollar traded with low volatility against the US Dollar on Monday. The currency pair made 26 base points movement during yesterday’s trading session.
The exchange rate is currently pressure by a resistance cluster formed by the 50– and 100-hour SMAs at 0.6586.
If this resistance cluster holds, a decline towards the weekly S1 at 0.6542 could be expected within this session.
On the other hand, if the currency exchange rate passes the 50– and 100-hour simple moving averages, the 200-hour SMA could stop the bullish momentum.
