The New Zealand Dollar declined by 75 basis points against the US Dollar on Monday. The 200– hour simple moving average provided support for the exchange rate at 0.6388 during yesterday’s trading session.
Today’s trading session began with bullish momentum and by the middle of the day, the currency pair appreciated by 0.62% in value.
The surge will likely continue until it reaches the 0.6460 area. A potential downside reversal could occur from the given resistance level during the following trading session.
