The New Zealand Dollar has depreciated about 1.03% in value against the US Dollar since yesterday’s trading session. The 50– hour simple moving average pressured the currency pair lower on Tuesday.
All things being equal, the NZD/USD exchange rate will most likely continue to edge lower during the following trading session. The potential target will be near the 0.6320 area.
However, a support cluster formed by the weekly S1 and the monthly pivot point at 0.6350 could provide support for the currency exchange rate within this trading session.
