Today’s trading session began with a strong bearish sentiment. The New Zealand Dollar has depreciated about 59 base points during the morning hours of Wednesday’s session.
A breakout through the lower boundary of an ascending channel occurred during the European trading session on Wednesday.
Given that a breakout had occurred, it is likely that bears could push the currency exchange rate towards a support level at 0.6826 during the following trading session.
Although, the market sentiment could changes within the following hours, as technical indicators suggest bullish signals on the daily time frame.
