The New Zealand Dollar traded sideways against the US Dollar on Thursday. However, the exchange rate managed to breached the 50-hour simple moving average during the previous trading session.
The currency pair is currently trading near the lower boundary of an ascending channel pattern and could be set for a breakout.
If this breakout occurs, bearish traders could push the currency exchange rate lower within this session.
Although, the US Non-Farm Employment Change and Unemployment Rate could be a game-changer during the following trading session.
