The New Zealand Dollar has surged by 114 basis points or 1.73% against the US Dollar since Tuesday’s trading session. The currency pair breached the monthly resistance level at 0.6630 on Tuesday.
As for the near future, the NZD/USD exchange rate could continue to edge higher. Moreover, technical indicators suggest buying signals on both the smaller and the larger time-frame charts.
However, the currency exchange rate could make a brief retracement towards the 50– hour simple moving average at 0.6597 within this session.
