The New Zealand Dollar has surged by 60 basis points or 0.92% against the US Dollar since Friday’s trading session. The currency pair was guided up by the 50– hour simple moving average.
All thing being equal, the NZD/USD exchange rate will most likely continue to trend bullish within this session. Bulls could aim at the weekly resistance level at the 0.6580 area.
A potential downside reversal could occur from the weekly resistance line, as mentioned above during the following session.
