Tue, Dec 01, 2020 @ 04:53 GMT
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NZD/USD Two Scenarios Likely

The New Zealand Dollar rose by33 basis points or 0.50% against the US Dollar on Tuesday. The currency pair breached the 50– and 100– hour SMAs on Wednesday morning.

The exchange rate is currently trading near the upper boundary of a descending channel pattern at 0.6615. If the channel pattern holds, bears might push the NZD/USD pair lower during the following trading session.

However, if the currency exchange rate breaks the descending channel pattern, a surge towards the 0.6662 level could be expected with this session.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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