The New Zealand Dollar appreciated about 62 base points against the US Dollar on Thursday. The exchange rate tested the weekly R2 at 0.6787 during yesterday’s trading session.

As for the near future, most likely, the NZD/USD currency pair might continue its upward movement. Bullish traders could aim for the upper boundary of an ascending channel pattern at 0.6840.

However, a resistance cluster formed by the weekly R2 and the Monthly R2 at 0.6787 could hider bulls from pushing the rate up today.

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