The New Zealand Dollar traded with low volatility against the US Dollar on Tuesday. However, the situation where different during the Asian session on Thursday. The currency pair gained about 1.8-% of its values.
The surge was attributed to a fundamental event that occurs during the morning hours of today’s trading session. The Official Cash Rate from New Zealand remained unchanged.
As for the nearest future, it is likely that bearish traders will push the currency exchange rate lower towards a support level at 0.6774.
Although, a support cluster is located near the 0.6815 area, which could provide support for the rate.
