The New Zealand Dollar appreciated about 56 base points against the US Dollar on Friday. The surge was stopped by a resistance level formed by the 200-hour simple moving average at 0.6810.
A breakout occurred through the upper boundary of a descending channel pattern at 0.6806 during the European trading session on Monday.
As for the short-term future, it is likely that the currency exchange rate surge towards a resistance level at 0.6834.
On the other hand, the NZD/USD pair could reverse from the current price level and aim for a support cluster at 0.6783 during the following trading session.
