The New Zealand Dollar traded in a narrow ascending channel against the US Dollar on Wednesday. The currency pair appreciated by about 40 base points during the yesterday’s session.
The exchange rate is trading near a resistance cluster formed by the combination of the weekly and the monthly PPs at 0.6827.
If this resistance line holds, the currency exchange rate will aim at the lower boundary of an ascending trendline at 0.6757 within this session.
However, if the rate passes the resistance level, the next target for bullish traders will be at the 0.6850.
