The New Zealand Dollar appreciated about 67 base points against the US Dollar on Tuesday. The currency pair breached both the 50-and 100-hour SMAs during yesterday’s session.
Given that the three SMAs has fallen below the price level, the bullish momentum is likely to continue within this session. The possible target for the currency exchange rate will be at a resistance cluster formed by the combination of the weekly and the monthly PPs at 0.6832 today.
Furthermore, technical indicators demonstrate that the NZD/USD currency pair will continue its bullish sentiment during the following trading session.
