The New Zealand Dollar surge by 81 pips or 1.36% against the US Dollar on Tuesday. The currency pair breached the weekly R1 at 0.6098 during the Asian session on Wednesday.
All things being equal, the exchange rate will most likely continue to surge within this session. The potential target for bullish traders would be at the weekly R2 at 0.6185.
However, the upper boundary of a dominant descending channel pattern at 0.6120 could provide resistance for the NZD/USD currency exchange rate during the following trading session.
