The New Zealand Dollar depreciated about 33 base points against the US Dollar on Friday. The currency pair tested the 0.6520 mark during Friday’s trading session.
Everything being equal, it is likely that the Kiwi will continue to strengthen against the Greenback during the following trading session. The potential upside targets will be near the 200-hour simple moving average at 0.6570.
However, technical indicators demonstrate that the currency exchange rate could continue its decline in the short-term.
The important resistance level to watch will be at the weekly pivot point at 0.6547. If the pair breaks that resistance line, a surge is imminent today.