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.
