The New Zealand Dollar has appreciated about 73 basis points against the US Dollar since Friday’s trading session. The 50– hour simple moving average guided the currency pair higher on Friday.
All things being equal, the NZD/USD exchange rate is likely to make a brief retracement towards the weekly pivot point at the 0.6404 regions within the following trading session.
If the support level holds, the currency exchange rate will most likely continue its upward movement in the nearest future.
