The New Zealand Dollar depreciated about 0.38% in value against the US Dollar on Friday. The currency pair tested the 200– hour simple moving average during Friday’s trading session.
All things being equal, the NZD/USD exchange rate will most likely edge higher within this session. Bullish traders might aim for the 0.6460 area in the shorter term.
Although, a resistance level formed by the weekly R1 at 0.6431 could provide resistance for the currency exchange rate during the following trading session.
