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NZD/USD Analysis: Likely To Edge Up

The New Zealand Dollar edged higher by 48 pips or 0.73% against the US Dollar on Tuesday. The currency pair tested the weekly pivot point at 0.6610 on Wednesday morning.

As for the following trading session, the NZD/USD exchange rate could continue to surge. A breakout through the upper line of a descending channel pattern might occur today.

However, the weekly PP at 0.6610 could still provide resistance for the currency exchange rate within this session.

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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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