The 50-, 100-, and 200-hour SMAs pressured the New Zealand Dollar lower against the US Dollar on Wednesday.
Given that the three SMAs are above the price level, most likely, the currency pair will continue to fall within this session. The Greenback could push the Kiwi towards the lower boundary of a medium-term descending channel pattern at 0.6653.
On the other hand, the currency exchange rate could reverse from the current price level and breakout through the upper boundary of the descending channel pattern today.
