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NZD/USD Analysis: Breaches SMAs

The New Zealand Dollar began today’s session with a strong bearish momentum against the US Dollar. The currency pair was pressured south by the 200-hour simple moving average and the weekly pivot point at 0.6894.

As for the near future, it is likely that the NZD/USD currency exchange rate continues its decline. From a technical point of view, the potential downside target will be near a support level at 0.6840.

However, the pair could reverse from current price level and aim for a re-tests of a resistance cluster at 0.6894 today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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