The New Zealand Dollar has surged by 62 basis points or 0.94% against the US Dollar since Friday’s trading session. The currency pair breached the 50– and 100– hour SMAs on Monday morning.
Technical indicators flash buying signals on all time frames. Therefore, bullish traders are likely to push the NZD/USD exchange rate higher during the following trading session.
However, the currency exchange rate is expected to make a brief reversal towards the 50– and 100– hour SMAs near the 0.6645 area today.
