The New Zealand Dollar surged by 123 basis points or 2.08% against the US Dollar on Thursday. The currency pair breached the 50-, 100– and 200– hour SMAs during Thursday’s trading session.
As for the near future, the NZD/USD exchange rate is likely to continue to trend bullish. The possible target for the pair would be at the upper boundary of a descending channel pattern at 0.6044.
However, technical indicators demonstrate that the currency exchange rate might edge lower during the following trading session.
