The New Zealand Dollar appreciated by 33 basis points or 0.51% in value against the US Dollar on Tuesday. The currency pair tested a resistance cluster formed by the weekly S2 and the 50– hour SMA at 0.6555 during yesterday’s trading session.
Currently, the NZD/USD exchange rate is testing a support level formed by the weekly S3 at 0.6529.
If the support level holds, bullish traders could drive the price towards the 0.6580 area today.
However, if the currency exchange rate breaks the weekly S3, a decline towards the psychological level at 0.6500 during the following trading session.
