The New Zealand Dollar edged higher by 24 points or 0.35% against the US Dollar on Monday. The currency pair tested the monthly pivot point at 0.6633 during yesterday’s trading session.
The exchange rate breached the lower boundary of an ascending channel pattern on Tuesday morning. Most likely, the NZD/USD pair could continue to decline within this session.
Though, the 100– hour simple moving average at 0.6631 could provide support for the currency exchange rate in the short-term.
