During the first half of Wednesday’s trading session, the New Zealand Dollar fell by 41 pips against the US Dollar. However, if the currency pair recovered some of the lost gains at the end of the day.
Technical indicators suggest that the exchange rate is likely to continue to surge in an ascending channel pattern during the following trading session. The possible target for the NZD/USD pair would be at the 0.7120 level.
Although, the upper line of the channel pattern could provide resistance for the currency exchange rate in the shorter term.
