The New Zealand Dollar surged by 93 points or 1.45% against the US Dollar on Monday. The surge was stopped by the 200– period simple moving average during Monday’s trading session.
All things being equal, the NZD/USD exchange rate would continue to surge within this session. Bullish traders could target the weekly resistance level at the 0.6554 area.
However, the 50– hour simple moving average at 0.5446 could provide support for the currency exchange rate within this session.
