The New Zealand Dollar has edged higher by 100 pips or 1.40% against the US Dollar since yesterday’s trading session. The currency pair breached the 200– hour simple moving average at 0.7205 during the Asian session on Thursday.
The exchange rate is likely to continue to surge in an ascending channel pattern during the following trading session. The potential target for buyers will be near the weekly R1 at 0.7277.
However, the NZD/USD currency exchange rate could reverse from a resistance line at 0.7240 within today’s trading session.
