NZD/USD Bounces Off Support
New Zealand’s currency declined by 48 basis points or 0.68% against the US Dollar on Monday. The decline was stopped by the 100– hour simple moving average during yesterday’s trading session.
The exchange rate bounced off from the lower boundary of an ascending channel pattern during yesterday’s trading session.
By and large, the NZD/USD currency pair is likely to continue to surge in the channel pattern within this session.
However, the weekly R1 at 07152 could provide resistance for the currency exchange rate today
Reprinted from ActionForex，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.