The New Zealand Dollar surged by 54 pips or 0.82% against the US Dollar on Wednesday. The currency pair tested the monthly pivot point at 0.6594 during yesterday’s trading session.
Everything being equal, the exchange rate could continue to trend bullish during the following trading session. The potential target for bullish traders would be at the 200– hour simple moving average at 0.6614.
However, the 100– hour SMA at 0.6594 could provide resistance for the currency exchange rate within the following trading hours.
