The New Zealand Dollar has appreciated about 77 basis points against the US Dollar since Wednesday’s trading session.
A breakout occurred through the upper boundaries of both the junior and medium-term descending channels pattern during the European trading session on Thursday.
Given that a breakout had occurred, the NZD/USD will likely target the weekly pivot point at 0.6319 within the following trading session.
However, the monthly PP, located at 0.6299 could provide resistance for the currency exchange rate today.
