During Tuesday’s trading session, the New Zealand Dollar depreciated about 0.56% in values against the US Dollar. The decline was stopped by the 50-hour simple moving average at 0.6841.
In regards to the near-term future, it is expected that the 50-hour SMA will push the NZD/USD exchange rate to break a junior ascending channel pattern during the following trading session.
Meanwhile, today’s macroeconomic data releases; namely, the US PPI and Core PPI data releases at 12:30 GMT might support the Kiwi to appreciate against the Greenback towards the 0.6879 mark.
