Upside risks have dominated the New Zealand Dollar against the US Dollar since yesterday’s trading session. The NZD/USD pair surged by 75 basis points or 1.17% during the last 24 hours.
Everything being equal, the exchange rate will most likely continue to edge higher during the following trading session. The possible target for bullish traders would be at the 0.6500 level.
On the other hand, the currency exchange rate could reverse from the current price level at 0.6460 and aim for the monthly pivot point at 0.6407 today.