The New Zealand Dollar has surged by 45 points or 0.69% against the US Dollar on since Monday’s trading session. The currency pair bounced off the 50-, 100– and 200– hour SMAs at 0.6558 on Tuesday morning.
All things being equal, the NZD/USD exchange rate could continue to surge during the following trading session. Bullish traders could target the weekly resistance level at 0.6597.
A potential downside reverse could occur from the weekly resistance line, as mentioned above, before the end of today’s session.
