The New Zealand Dollar appreciated about 37 basis points against the US Dollar on Tuesday. The currency pair tested a resistance level formed by the weekly R1 at 0.6431 during the previous session.
If the NZD/USD exchange rate breaks the weekly R1, as mentioned earlier, bullish traders would drive the price towards the 0.6462 during the following trading session.
However, if the resistance level at 0.6431 holds, a decline towards the weekly pivot point at the 0.6406 regions could be expected today.
