Dukascopy Bank Team
Dukascopy Bank SA
NZDUSD
Upside risks prevail in the market on Monday, thus allowing the New Zealand Dollar to gain 57 base points against the US Dollar. The currency pair breached the weekly resistance level at 0.6595 during the first part of Tuesday's session.
Given that the exchange rate has breached the resistance line mentioned above, the pair could continue upward for a potential target near the upper boundary of a junior ascending channel at 0.6620.
On the other hand, the NZD/USD pair might reverse from currency price level and aim for the 50-hour simple moving average at 0.6571 today.
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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