NZD/USD Surge Insight

The New Zealand Dollar depreciated about 129 base points against the US Dollar on Wednesday. The currency pair breached the lower boundary of an ascending channel during yesterday’s trading session.

The exchange rate opened above the bottom border of the channel pattern during Thursday’s session.

As for the near future, it is likely that the currency exchange rate continues to gain strength and potentially target a resistance cluster formed by the combination of the 50– hour simple moving average and the monthly S1 at 0.6683.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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