The New Zealand Dollar has depreciated about 41 base points against the US Dollar since Monday’s trading session.
The exchange rate was stranded between SMAs during the first part of today’s trading session. The 50-hour simple moving average was providing resistance for the currency pair, while the 100– and 200-hour was providing support for the rate.
A breakout could be expected from the moving averages during the following trading session.
Meanwhile, technical indicators flash bullish signals on both the smaller and the larger time-frame charts.