The New Zealand Dollar has surged by 112 basis points or 1.79% against the US Dollar on Tuesday. The currency pair breached the upper boundary of an ascending channel pattern during Tuesday’s trading session.
Given that a breakout had occurred, the NZD/USD exchange rate could continue to trade bullish during the following trading session.
However, the resistance cluster formed by the weekly R3 and the monthly R2 at 0.6438 could provide resistance for the currency exchange rate during the next hours.
