The New Zealand Dollar has depreciated by 1.48% in value against the US Dollar since August 26. The currency pair breached the weekly S2 at 0.6319 during the morning hours of today’s session.
Currently, the exchange rate is gradually making an upside movement. Bullish traders might aim for the 200– hour simple moving average at 0.6383 during the following trading session.
However, a resistance cluster formed by the 50– hour SMA and the weekly S1 near the 0.6352 area could provide resistance for the currency exchange rate within this session.
