The NZD/USD currency pair traded with low volatility during yesterday’s trading session. The New Zealand Dollar made about 22 pips movement against the US Dollar on Tuesday.
Given that the exchange rate is trading near the lower boundary of an ascending channel pattern at 0.6678, a breakout could happen during the following trading session.
However, a support level formed by the weekly pivot point and the 50-hour simple moving average at 0.6678 could prevent the breakout from occurring within this session.
