The New Zealand Dollar depreciated by 41 basis points against the US Dollar on Friday. The decline was stopped by the weekly pivot point at 0.6583 during Friday’s trading session.
Everything being equal, the NZD/USD exchange rate will continue to trade in the junior ascending channel pattern today. Bullish traders could target the weekly R1 at 0.6644 within this session.
However, the currency exchange rate has to surpass the monthly R3 at 0.6624 before reaching the given target.
