The New Zealand Dollar declined by approximately 30 basis points or 0.45% against the US Dollar on Friday. The decline was stopped by the 50– hour simple moving average during Friday’s trading session.
Technical indicators flash buying signals on both the 4 hour and daily time-frame charts. Most likely, the exchange rate could continue to edge higher within this session.
However, given that the currency exchange rate is currently trading near the bottom border of an ascending channel pattern,, a breakout could occur within this session.