The Kiwi Dollar declined by 83 pips or 1.38% against the US Dollar on Wednesday. The exchange rate tested the weekly support level at 0.5921 during Wednesday’s trading session.
The currency pair bounced off from the weekly S1 at 0.5921 during the first part of Thursday’s session. Most likely, the NZD/USD pair will continue to surge within this session. The possible target will be at the 0.6025 area.
Although, the 100– hour simple moving average at 0.5995 could provide resistance for the currency exchange rate within the following trading session.
