The New Zealand Dollar is gradually edging higher against the US Dollar in a junior ascending channel pattern. The currency pair appreciated about 56 basis points during yesterday’s trading session.
As for the near future, the NZD/USD exchange rate might make a brief retracement towards a support cluster formed by the 50– and 200– hour simple moving averages at 0.6281.
However, today’s macroeconomic data releases scheduled at 12:30 GMT could change the overall position of the currency exchange rate within the following trading session.
