The New Zealand Dollar has appreciated about 28 basis points against the US Dollar since Thursday’s session. The currency pair breached a significant resistance level at 0.6431 during the UK’s trading session on Friday.
Given that the exchange rate has breached the weekly R1 at 0.6431, bullish traders could continue to dominate this session. The potential target will be at the 0.6462 area.
A possible downside reversal could occur from the weekly R2 at 0.6462 during the following trading session.
