The New Zealand Dollar declined by 35 pips or 0.49% in value against the US Dollar on Thursday. The currency pair breached the weekly pivot point at 0.6433 during yesterday’s trading session.

If the support cluster formed by the weekly PP and the 100– hour simple moving average holds, the exchange rate will likely edge higher during the following trading session.

However, if the NZD/USD currency exchange rate breaks the cluster, bearish traders would drive the price lower during the following trading session

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