The New Zealand Dollar declined by 65 pips or 0.94% against the US Dollar on Thursday. The currency pair breached the 50– and 100– hour SMAs during yesterday’s trading session.
Most likely, bearish traders could continue to pressure the exchange rate lower during the following trading session. The potential target for bears would be near the 0.6750 level.
However, the 200– hour simple moving average at 0.6780 could provide support for the currency exchange rate within this session.
