The New Zealand Dollar depreciated by 60 basis points against the US Dollar on Thursday. The currency pair breached the weekly pivot point at 0.6871 during the period trading session.
Currently, the exchange rate is trading between the 50– and 100– hour simple moving averages.
Technical indicators suggest that the NZD/USD pair will likely gain strength during the following trading session.
However, the Kiwi could likely consolidate against the Greenback in the short-term future.
