New Zealand’s currency declined by 48 basis points or 0.68% against the US Dollar on Monday. The decline was stopped by the 100– hour simple moving average during yesterday’s trading session.
The exchange rate bounced off from the lower boundary of an ascending channel pattern during yesterday’s trading session.
By and large, the NZD/USD currency pair is likely to continue to surge in the channel pattern within this session.
However, the weekly R1 at 07152 could provide resistance for the currency exchange rate today
