Downside momentum pressured the New Zealand Dollar against the US Dollar on Friday. The NZD/USD exchange rate declined by 145 pips or 1.97% during Friday’s trading session.
Given that a breakout had occurred through the lower boundary of an ascending channel pattern, sellers might pressure the currency pair lower during the following trading session.
However, a support line at the 0.7200 level could provide support for the currency exchange rate within this session.
