The New Zealand Dollar has edged higher by 100 pips or 1.61% against the US Dollar since yesterday’ trading session. The exchange rate breached the weekly R1 at 0.6268 on Monday.
Everything being equal, the currency pair will most likely continue to surge in the ascending channel pattern during the following trading session. Technical indicators flash buy signals on both the 4-hour and daily time-frame charts.
However, the monthly resistance level at 0.6318 could provide resistance for the NZD/USD currency exchange rate within this session.
