Range Markets

The New Zealand Dollar remained stable against the US Dollar during Monday’s trading session. A gradual bullish momentum continues to dominate the currency pair.

During the European trading session on Monday, the NZD/USD exchange rate was bouncing between SMAs. The combination of the 100– and 200– hour simple moving averages was providing resistance for the price, while 55– hour SMA was supporting the rate.

In the meantime, technical indicators flash strong sell signals. However, traders are waiting for the ISM Manufacturing PMI release which is scheduled at 14:00 GMT today.

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