The New Zealand Dollar depreciated about 78 base points against the US Dollar on Thursday. The decline was temporarily stopped by a support level formed by the 100-hour simple moving average at 0.6871.
Friday’s trading session started with a bearish sentiment. By the middle of the day, the exchange rate was trading near the lower boundary of an ascending channel pattern at 0.6871 and could be set for a breakout.
If this breakout occurs, the next target for bearish traders will be near the weekly pivot point at 0.6838.
– advertisement –
However, it is important to note that the 200-hour SMA at 0.6858 could provide support for the pair today.
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Baidu’s robotaxis don’t need any human staff in these parts of ChinaChinese tech company Baidu announced Monday it can sell some robotaxi rides without any human ... Read More Fed Governor Bowman sees ‘similarly sized’ rate hikes ahead after three-quarter point movesFederal Reserve Governor Michelle Bowman said Saturday she supports the central bank's recent big rate ... Read More Danger ahead: The U.S. economy has yet to face its biggest recession challengeYou'd be hard-pressed now to find a recession in the rearview mirror. What's down the ... Read More |
