The New Zealand Dollar appreciated about 48 base points against the US Dollar on Monday. The exchange rate breached a triangle-like formation pattern during the previous trading session.
The currency pair is currently testing the upper band of the triangle pattern at 0.6878.
Most likely, the NZD/USD exchange rate could edge lower towards a support cluster formed by the combination of the 50-, 100– and 200-hour SMAs near the 0.6849 area within this session.
Although, technical indicators suggest otherwise. Technical sentiment flash bullish signals today.
