The New Zealand Dollar surged by 77 basis points or 1.30% against the US Dollar on Friday. The currency pair breached the 100– and 200– hour SMAs during Friday’s trading session.
Everything being equal, the exchange rate will most likely continue to surge within this session. The possible target for the NZD/USD pair would be near the weekly R1 at 0.6130.
However, technical indicators flash mixed signals, therefore; the currency exchange rate could trade sideways during the following trading session.
