The New Zealand Dollar has surged by 177 basis points or 2.03% against the Canadian Dollar since the beginning of July. The currency pair breached the resistance cluster at 0.8893 on July 7.
As for the near future, the NZD/CAD exchange rate will most likely continue to edge higher. Bullish traders could aim at the 0.9000 level during next week’s trading sessions.
However, the weekly resistance level at 0.8949 could provide resistance for the currency exchange rate in the shorter term.
