The New Zealand Dollar declined by 34 points or 0.50% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the NZD/USD currency pair during Tuesday’s trading session.
As for the near future, the exchange rate could continue to edge higher in the ascending channel pattern. Bullish traders could target the weekly resistance level at 0.6815 within this session.
However, if the currency exchange rate breaks the 50– hour SMA support line, a decline towards the 0.6700 level could be expected today.
