The New Zealand Dollar has surged by 71 basis points or 1.17% against the US Dollar since Monday’s trading session.
Currently, the exchange rate is trading near the bottom border of an ascending channel pattern at 0.6104.
If the channel pattern holds, the currency pair will most likely continue to edge higher within this session.
However, if the NZD/USD pair breaks the ascending channel, a decline towards the 100– hour simple moving average at 0.6052 could occur during the following trading session.
