The New Zealand Dollar traded with lower volatility against the US Dollar on Thursday. The currency pair, however, breached both the weekly and the monthly pivot points during yesterday’s trading session.
Everything being equal, it is likely that the currency exchange rate will aim for the upper boundary of an ascending channel pattern at 0.6749 during the following trading session.
On the other hand, the NZD/USD currency pair might make a U-turn from the current price level at 0.6708 and move towards the 100-hour simple moving average at 0.6650 within this session.
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