Since yesterday’s trading session, the New Zealand Dollar has surged by 54 basis points or 0.86% in value against the US Dollar. The currency pair breached the monthly pivot point at 0.6312 on Thursday morning.
Bullish momentum would likely continue to dominate the exchange rate within this session. The potential target for bullish traders will be at the upper boundary of a junior ascending channel pattern at 0.6360.
However, the currency exchange rate has to surpass the weekly R1 at 0.6338 before reaching the given target, as mentioned above.
