The New Zealand Dollar has surged by 87 pips or 1.26% against the US Dollar since yesterday’s trading session. The currency pair breached the weekly R1 at 0.6968 on Tuesday morning.
As for the near future, the NZD/USD exchange rate could continue to edge up in an ascending channel pattern. The potential target for bullish traders would be at the 0.7040 level.
However, the weekly R2 at 0.7014 could provide resistance for the currency exchange rate during the following trading session.
