The New Zealand Dollar has declined by 55 basis points against the US Dollar since yesterday’s trading session. The currency pair was pressured down by the 50– and 100– hour SMAs.
Currently, the exchange rate is testing a support level formed by the weekly S1 at 0.6619.
If the support level holds, a surge towards the 200– hour simple moving average at 0.6682 could be expected today.
However, the currency exchange rate will likely surpass the weekly S1 within this session.
