The New Zealand Dollar declined by 48 pips or 0.75% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average.
All things being equal, the NZD/USD exchange rate could continue to trade bearish during the following trading session. The possible target for bears would be at the 0.6400 level.
However, if the currency exchange rate breaches the resistance cluster at 0.6444, a surge towards the 0.6480 area could be expected today.