The New Zealand Dollar depreciated about 57 base points against the US Dollar on Monday. The decline was stopped by a support cluster formed by the weekly and the monthly PPs at 0.6827.
Everything being equal, it is likely that the currency exchange rate continues trading in a three-week ascending channel pattern during the following trading session.
Technical indicators the 4(H) and the daily time frames suggest that the NZD/USD currency pair could end today with a bullish momentum.
The potential target for the pair will be near the upper boundary of a triangle-likely formation at 0.6900.
