The New Zealand Dollar has surged by 128 pips or 1.78% against the US Dollar since yesterday’s trading session. The currency pair breached the upper boundary of an ascending channel pattern at 0.7296 on Wednesday morning.
The NZD/USD exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders would be near the weekly R2 at 0.7326.
However, if the ascending channel pattern holds, the currency exchange rate could make a brief retracement towards the 0.7254 during the following trading session.
