The New Zealand Dollar edged higher by 41 pips or 0.59% against the US Dollar on Monday. The 50– hour simple moving average pressured the currency pair higher during yesterday’s trading session.
All things being equal, the NZD/USD exchange rate could continue to surge during the following trading session. The potential target for buyers will be near the weekly resistance level at 0.7137.
However, the 200– hour SMA at 0.7063 could provide resistance for the currency exchange rate during Tuesday’s trading session.
