The 200-hour simple moving average proved to have enough strength to restrict the New Zealand Dollar from edging higher against the US Dollar during Friday’s trading session.
Everything being equal, it is likely that the NZD/USD currency pair will continue its downside movement within this session. The possible targets for bearish traders will be near a support line at 0.6542.
On the other hand, the currency exchange rate could reverse from the current price level at 0.6578 and aim for a re-tests of the 200-hour simple moving average at 0.6608.
