The New Zealand Dollar declined by 101 basis points or 1.68% against the US Dollar on Tuesday. The currency pair breached the monthly pivot point at 0.5958 during yesterday’s trading session.
The exchange rate rebounded from the monthly support level on Wednesday morning. The NZD/USD pair could aim for the 0.6050 area within the following trading session.
However, the weekly pivot point at 0.6025 could provide resistance for the currency exchange rate during the following trading hours.
