The price of the New Zealand dollar rose against the US dollar from 0.6210, to settle today at around 0.6438 levels. Stability in trading above the mentioned level might be a strong reason to strengthen the bullish trend to reach the initial resistance level 0.6468.
In the event that it reverses our expectations for the pair’s decline, then we must take 0.6408 levels as a stop-loss area.
By reading the chart of the New Zealand dollar pair, it is clear to us that the pair traded above the three moving averages (7, 14, and 21 hours) and the relative strength index confirms the dominance of buying forces on the New Zealand dollar pair, and from it we expect the pair to rise to 0.6468 levels
Resistance: 0.6468
Support: 0.6408
Pivot: 0.6449