The New Zealand Dollar depreciated by 27 pips or 0.41% in value against the US Dollar on Monday. The currency pair traded below the 50- hour simple moving average during yesterday’s trading session.
Everything being equal, the exchange rate could edge higher during the following trading session. The potential target will be near a resistance level formed by the weekly pivot point at 0.6504.
However, the 100– hour simple moving average resistance level at 0.6486 could provide resistance for the NZD/USD currency exchange rate within this session.
