The New Zealand Dollar traded sideways movement against the US Dollar on Wednesday. The 50-hour simple moving average provided resistance for the pair during Wednesday’s trading session.
Everything being equal, most likely, the NZD/USD currency pair will make some gain today. The potential target for bullish traders will be near the 100– and 200-hour SMAs at 0.6605.
On the other hand, if the currency exchange rate breaks the medium-term ascending channel pattern, the pair might end this week’s trading sessions with a decline.
