The New Zealand Dollar maintained the ascending channel pattern against the US Dollar on Friday. The currency pair appreciated by 33 basis points during Friday’s trading session.
The exchange rate breached the ascending channel pattern during the first part of today’s trading session.
All thing being equal, the NZD/USD pair will likely aim for the weekly pivot point at 0.6520 today.
However, the 50– hour simple moving average at 0.6550 could still provide support for the currency exchange rate within this session.