The New Zealand Dollar appreciated about 74 base points against the US Dollar on Tuesday. The currency pair breached both the 50– and 100-hour SMAs during yesterday’s trading session.
As for the near future, it is likely that the currency exchange rate edges lower towards the lower boundary of an ascending channel pattern at 0.6840.
Nevertheless, technical indicators demonstrate that the NZD/USD currency pair will gain further strength within this session. If the technical sentiment is correct, the upside target will be at yesterday’s high levels of 0.6891.
