Downside risks have dominated the New Zealand Dollar against the US Dollar since yesterday’s trading session. The currency pair has declined by 78 basis points or 1.19% during this period.
Most likely, downside risks will continue to pressure the NZD/USD exchange rate lower during the following trading session. The potential target for bearish traders would be at the weekly S2 at 0.6479.
Although, the currency exchange rate is expected to make a brief pullback towards the 200– hour simple moving average at 0.6548 today.
