Upside risks dominated the New Zealand Dollar against the US Dollar on Wednesday. The currency pair edged higher by 107 pips or 1.50% during Wednesday’s trading session.
The NZD/USD exchange rate is likely to make a brief retracement towards the 50– hour simple moving average at the 0.7200 level during the following trading session.
However, a support level at 0.7240 could provide support for the currency exchange rate within this session.
