A resistance cluster formed by the combination of the weekly and the monthly pivot points restricted the upside movement of the New Zealand Dollar against the US Dollar on Thursday.

However, the situation changed during the Asian session on Friday, as bullish traders pushed the NZD/USD currency pair past the strong resistance level as mentioned above.

As for the shorter term future, it is likely that the currency exchange rate will target the weekly R2 at 0.6856.

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