The New Zealand Dollar has surged by 70 basis points or 1.13% against the US Dollar since yesterday’s trading session. The currency pair bounced off the lower boundary of an ascending channel pattern during the Asian session on Tuesday.
As for the near future, the NZD/USD exchange rate could continue to trend bullish. Buyers are likely to pressure the price towards the weekly R1 at 0.6193 within this session.
Furthermore, technical indicators suggest that the bullish momentum could continue until the end of Tuesday’s trading session.