The Australian Dollar has continued to edge higher in an ascending channel pattern against the New Zealand Dollar. The currency pair surged by 7.17% during the previous month.
The AUD/NZD exchange rate is currently trading near the bottom border of the ascending channel pattern. Most likely, a breakout could occur within the following trading sessions.
However, the 100– period simple moving average could provide support for the currency exchange rate within this week’s trading sessions.
