The New Zealand Dollar declined by 28 pips or 0.40% against the US Dollar on Friday. The currency pair tested the 50– hour simple moving average during Friday’s trading session.
Most likely, the exchange rate could edge higher during the following trading session. The potential target for bullish traders would be near the weekly resistance level at 0.7129.
However, Friday’s resistance line at 0.7109 could provide a barrier for the currency exchange rate in the short-term.
