HomeContributorsTechnical AnalysisNZD/USD Tests 200-Hour Sma

NZD/USD Tests 200-Hour Sma

The New Zealand Dollar declined by 126 basis points or 2.09% in value against the US Dollar. The currency pair breached the 50– and 100– hour SMAs during yesterday’s trading session.

Currently, the exchange rate is testing a support level formed by the 200– hour simple moving average at 0.5867.

If the support level holds, the NZD/USD pair will most a slight upside movement within this session.

However, if the currency exchange rate breaks the 200– hour SMA, a decline towards the 0.5800 area could be expected today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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