The New Zealand Dollar traded sideways against the US Dollar. The currency pair was trading near a resistance cluster formed by the combination of the weekly and the monthly PPs at 0.6475 during yesterday’s trading session.

Everything being equal, it is likely that the NZD/USD exchange rate will continue to trade flat within this session.

Although, a breakout to either direction could occur within this session. Technical indicators demonstrate that bears are likely to prevail in the market during the following trading hours.

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