The New Zealand Dollar has surged by 75 points or 1.10% against the US Dollar since Friday’s trading session. The currency pair breached the 50– and 100– hour SMAs during the Asian session on Monday.
As for the near future, the exchange rate could continue to edge up. Bullish traders are likely to target the weekly resistance level at 0.6911 during the following trading session.
On the other hand, the currency change rate could reverse from the current price level at 0.6880 and target the 0.6820 area within this session.
