During the last 24 hours, the New Zealand Dollar has depreciated about 45 base points against the US Dollar. The 50-hour simple moving average provided resistance for the currency pair at 0.6637 during yesterday’s trading session.
As for the near future, it is likely that the currency exchange rate could continue its southern movement in the coming hours. The pair might aim for a support cluster at 0.6562.
The weekly support level at 0.6579 could hinder bears from dragging the NZD/USD currency pair lower in the nearest future.
