New Zealand’s Dollar has surged by 155 pips or 1.80% against the Canadian Dollar since this week trading sessions. A breakout occurred through the upper boundary of a descending channel pattern.
Given that a breakout has occurred, bulls could dominate the exchange rate during next week trading sessions. The potential target for bullish traders would be at the 0.8900 level.
However, the 200– period simple moving average at 0.8773 could provide resistance for the NZD/USD currency exchange rate during the following trading sessions.
