The New Zealand Dollar appreciated by 53 basis points against the US Dollar on Monday. The Surge was stopped by the weekly pivot point at 0.6398 during yesterday’s trading session.
Everything being equal, it is likely that the NZD/USD currency pair might continue to fall during the following trading session. The potential downside target will be near the 0.6340 area.
Furthermore, technical indicators suggest bearish signals on both the smaller and the larger time-frame charts.
