The New Zealand Dollar declined by 76 basis points or 1.14% against the US Dollar on Thursday. The decline was stopped by the weekly support level at 0.6582 during yesterday’s trading session.
If the weekly S1 holds, a surge towards a resistance cluster formed by the weekly pivot point and the 200– hour simple moving average at 0.6623 could be expected within this session.
However, if the currency exchange rate breaks the support level, bears could dominate the market for the rest of Friday’s trading session.
