Downside momentum has pressured the New Zealand Dollar lower against the US Dollar since Friday’s trading session. The currency pair has declined by 350 basis points or 5.51% in value during this short period. However, the Kiwi Dollar regained most of its lost points during the morning hours on Monday.
As for the near future, the NZD/USD currency pair will most likely continue to edge higher within the following trading session. The short-term target will be at the 0.6400 area.
On the other hand, the currency exchange rate could consolidate below the 0.6400 regions during the following trading hours.
