Bullish sentiment dominated the New Zealand Dollar against the US Dollar on Wednesday. The currency pair appreciated by about 92 basis points during Wednesday’s trading session.
As for the near future, the NZD/USD will most likely decline within the following trading session. Bearish traders would likely target a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 0.6376.
If the support cluster holds, bulls could come into play and drive the currency exchange rate higher during the following trading session.
