The New Zealand Dollar appreciated about 62 base points against the US Dollar on Friday. The 50– hour simple moving average provided support for the currency pair at 0.6821 during Friday’s session.
Everything being equal, it is likely that the NZD/USD exchange rate decline towards a support cluster formed by the combination of the weekly, the monthly PPs and the 100-hour SMA at 0.6816.
However, technical indicators suggest otherwise. Technical sentiment demonstrates that the currency exchange rate will continue to trade in a junior ascending channel within this session.
