Upside risks dominated the New Zealand Dollar against the US Dollar on Thursday. As a result, the exchange rate surged by 86 basis points or 1.23% during Thursday’s trading session.
Technical indicators suggest that the currency pair could continue to trend higher during the following trading session. The possible target for bullish traders would be near the weekly resistance level at 0.7146.
On the other hand, the currency exchange rate could reverse from the current price level at 0.7099 and target the 50– hour simple moving average at 0.7060 within this session.
