The New Zealand Dollar has declined by 50 pips or 0.76% against the US Dollar since yesterday’s trading session. The currency pair breached 50– and 100– hour SMAs on Friday morning.
As for the near future, the exchange rate could continue to depreciate. Bearish traders could target July 8 swing low level at 0.6534 during the following trading session.
However, technical indicators suggest buying signals. Therefore, the currency exchange rate could edge higher within this session.
