The New Zealand Dollar depreciated about 30 base points against the US Dollar on Friday. The decline was stopped by a support level formed by the 50-hour simple moving average at 0.6792.
If the 50-hour SMA holds, the currency pair will continue its upside movement within this session.
On the other hand, if the NZD/USD currency exchange rate breaks the support level, as mentioned earlier, a decline towards a support cluster formed by the 100-hour SMA and the weekly PP at 0.6744 could be expected during the following trading session.
