The New Zealand Dollar appreciated by 51 basis points against the US Dollar on Wednesday. The currency pair was guided up by the 50– hour simple moving average during yesterday’s trading session.
Everything being equal, the NZD/USD exchange rate will most likely continue to edge higher. The potential target for bullish traders would be near the psychological resistance level at 0.6580.
However, the weekly R2 at 0.6544 could still provide resistance for the currency exchange rate within the following trading session.
