The New Zealand Dollar has surged by 63 pips or 0.98% against the US Dollar since Wednesday’s trading session. The weekly pivot point at 0.6444 provided support for the exchange rate on Wednesday.
Everything being equal, the currency pair will most likely continue to trade in the narrow ascending channel pattern. The potential target would be at the 0.6540 level.
However, the weekly resistance level at 0.6507 could provide resistance for the currency exchange rate during the following trading session.