The New Zealand Dollar has depreciated about 55 basis points against the US Dollar since yesterday’s trading session. The 50– hour simple moving average pressured the currency pair down on Thursday.
Technical indicators flash sell signals on both the smaller and the larger time frames charts. Therefore, the exchange rate might continue to trade south within this session.
However, the currency exchange rate might reverse from the current price level at 0.6295 and aim for a retest of the 50– hour SMA at 0.6325 today.
