The New Zealand Dollar declined by 74 pips or 1.22% against the US Dollar on Wednesday. The currency pair was pressured lower by the 50-, 100– and 200– hour SMAs during Wednesday’s trading session.
As for the near future, the NZD/USD exchange rate will most likely edge higher within this session. The possible target for bullish traders would be at the 0.6100 area.
Although, a resistance cluster, located near the 0.6060 marks, could provide resistance for the currency exchange rate during the following trading session.
