The New Zealand Dollar declined by 86 pips or 1.42% against the US Dollar on Friday. The currency pair was pressured lower by the 50– hour simple moving average during Friday’s trading session.
Technical indicators flash sell signals on both the smaller and the larger time-frame charts. Therefore, the exchange rate could continue to decline within the following session.
However, the currency exchange rate could briefly slide up towards the weekly pivot point at 0.6001 before bearish traders take control of the market.
