The Australian Dollar has continued to surge in an ascending channel pattern against the New Zealand Dollar. The currency pair has edged higher by 0.97% during the past two weeks.
All things being equal, the AUD/NZD exchange rate could continue to edge up in the ascending channel pattern during the following trading sessions. The potential target for bulls would be at the 1.0800 level.
However, given that the currency exchange rate is currently trading near the lower line of the channel pattern, a breakout could occur within this week’s trading sessions.
