The junior descending channel has continued to pressure the New Zealand Dollar lower against the US Dollar. The currency pair has declined by 95 basis points or 1.59% in value since yesterday’s trading session.
All things being equal, the exchange rate will most likely continue to edge lower during the following trading session. A breakout through the lower boundary of the junior descending channel pattern.
However, Friday’s macroeconomic data release, namely, the US unemployment numbers, could influence the overall movement of the currency exchange rate.
