Downside risks dominated the New Zealand Dollar versus the US Dollar on Monday. As a result, a breakout through the lower boundary of an ascending channel pattern occurred.
Most likely, the currency pair might continue its downwards movement within this session. The potential target for bearish traders will be near a swing low at the 0.6600 area.
However, a support cluster formed by the combination of the weekly pivot point and the 200-hour simple moving average at 0.6648 could providing support for the currency exchange rate in the short-term
