The New Zealand Dollar edged lower by 47 pips or 0.71% in value against the US Dollar. The decline continues during the morning hours of Tuesday’s trading session.
The exchange rate is currently testing a support line formed by the weekly S3 at 0.6529.
If the support level holds, the NZD/USD pair will make a brief upward movement within this session.
However, if the currency exchange rate breaks the weekly S3, bearish traders will likely continue to pressure the price lower during the following trading session.
