The New Zealand Dollar versus the US Dollar appreciated about 45 base points during yesterday’s trading session. The currency pair is gradually moving towards a resistance level at 0.6704.
If the resistance level holds, a pullback towards a support cluster formed by the 50– and 200-hour SMAs and the combination of the weekly and the monthly PPs near 0.6653 could be expected during the following trading session.
However, if the currency exchange rate breaches the resistance line, bullish traders might aim for a swing high at 0.6727 in the nearest future.
