The New Zealand Dollar surged by 80 points or 1.22% against the US Dollar on Tuesday. The currency pair breached the upper boundary of a junior ascending channel pattern on Wednesday morning.
Everything being equal, the exchange rate could continue to trend bullish within the following trading session. The potential target for bullish traders would be near the weekly R2 at 0.6666.
A possible downside reversal could occur from the weekly resistance level at 0.6666 during the following trading session.
