The New Zealand Dollar surged by 106 pips or 1.61% against the US Dollar on Tuesday. A breakout occurred through the upper boundary of a descending channel pattern during yesterday’s trading session.
Downside momentum dominated the exchange rate during the Asian session on Wednesday. Most likely, the NZD/USD currency exchange rate could continue to edge lower today.
However, technical analysis outlook might be obsolete due to the US presidential election results expected before the end of Wednesday’s trading session.
