The New Zealand Dollar appreciated about 57 basis points against the US Dollar on Thursday. The currency pair tested a resistance level formed by the 100– hour simple moving average during yesterday’s trading session.
Everything being equal, it is likely that the NZD/USD exchange rate will aim for the 200-hour SMA at 0.6535 within this session.
However, the currency exchange rate could reverse from the current price level near the 100– hour SMA at 0.6494 and target the weekly S2 near the 0.6426 area during the following trading session.
