The New Zealand Dollar depreciated about 75 base points against the US Dollar on Wednesday. However, the exchange rate regained its lost positions during the first part of Thursday’s trading session.
Currently, the currency pair is testing a resistance level formed by the 50– and 100-hour SMAs at 0.6873.
If this resistance line holds, the currency exchange rate will aim at a low level of 0.6820 today.
However, if the pair passes the SMAs, the next target for bullish traders will be at a resistance cluster near the 0.6893 region.
