New Zealand’s dollar rose by 39 points or 0.59% against the US Dollar on Tuesday. The 50– hour simple moving average provided support for the currency pair during yesterday session.

A breakout occurred through the lower boundary of an ascending channel pattern on Wednesday morning.

Given that a breakout had occurred, bears would continue to pressure the exchange rate lower within this session.

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However, the 100– hour SMA at 0.6685 could provide support for the currency exchange rate in the shorter term.

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