The New Zealand Dollar is currently trading in a short-term descending channel pattern against the US Dollar. The currency pair made about 62 points move during Friday’s trading session.
Everything being equal, the exchange rate will most likely maintain the descending channel pattern. Bears could target the support cluster at 0.6661 within this session.
On the other hand, given that the currency exchange rate is trading near the upper line of the short-term descending channel pattern, a breakout could occur during the following hours.
