The New Zealand Dollar has continued to trade sideways against the US Dollar on Monday. The 100– and 200– hour SMAs provided resistance for the currency pair during Monday’s trading session.
Everything being equal, the exchange rate might continue to trade sideways within this session. Bulls are likely to aim for a retest of the resistance cluster formed by the weekly PP and the 100– and 200– hour SMAs at 0.6558 today.
However, the 50– hour simple moving average resistance line at 0.6533 could provide resistance for the currency exchange rate in the shorter term.
