Fri, May 07, 2021 @ 12:35 GMT
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NZD/USD Aims For 200-Hour SMA

The New Zealand Dollar bounced off the lower boundary of a descending channel pattern at 0.6580 on Thursday. The Kiwi has gained about 69 base points against the US Dollar since yesterday’s trading session.

The currency pair breached has breached both the 50– and 100-hour SMAs and currently aiming for the 200-hour simple moving average at 0.6678. Most likely, the rate will hit that level within this session.

However, technical indicators demonstrate that the currency exchange rate will maintain the medium-term descending channel pattern during the following trading session.

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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