NZD/USD Rally Insight

The New Zealand Dollar was trading in a horizontal line against the US Dollar on Friday. The 50– and 100-hour simple moving averages provided significant support and resistance for the currency pair during Friday’s trading session.

The exchange rate was still stranded between the moving averages during Monday’s trading session. Most likely, a breakout is likely to occur within this session. Technical sentiment suggests an upside breakout.

However, a resistance cluster at 0.6885 could hinder such progress during the following trading hours.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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