The New Zealand Dollar has revealed a new junior descending channel against the US Dollar. The currency pair depreciated by 38 basis points during Friday’s trading session.

The narrow descending channel pattern will most likely guide the exchange rate lower today. The potential target for bearish traders would be near a support level at 0.6347.

Furthermore, technical indicators demonstrate bearish signals on both the smaller and the larger time frame charts.

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.