The New Zealand Dollar depreciated about 60 base points against the US Dollar on Tuesday. The decline was stopped by a support level formed by the weekly S1 at 0.6748.
Today’s session began with a bullish sentiment. By the middle of the European trading session, a breakout through the upper boundary of the ascending channel pattern has occurred.
Given that a breakout had occurred, it is likely that the currency exchange rate will aim for a resistance cluster formed by the weekly and the monthly pivot points at 0.6837 within this session.
