The New Zealand Dollar appreciated about 50 base points against the US Dollar on Tuesday. The currency pair breached the 50-hour simple moving average at 0.6745 during the end of Tuesday’s trading session.
As for the near future, it is likely that the NZD/USD exchange rate will maintain the junior ascending channel.
The potential upside targets for the currency exchange rate will be near a resistance level formed by the combination of the weekly and the monthly pivot points at 0.6795.
Meanwhile, technical indicators flash bullish signals on the 4(H) time frame chart.
