The New Zealand Dollar declined by 26 points or 0.39% against the US Dollar on Monday. However, the currency pair made a U-turn from a support cluster at 0.6689 during the Asian session on Tuesday.
Given that the exchange rate has breached the weekly resistance level, a surge towards the upper boundary of an ascending channel pattern at 0.6760 could occur within this session.
Although, the currency exchange rate could reverse from the current price level at 0.6723 and make a brief downside retracement before the end of today’ session.
