The New Zealand Dollar surged by 52 pips or 0.79% against the US Dollar on Monday. The currency pair breached the 50– and 100– hour SMAs during yesterday’s trading session.
All things being equal, the NZD/USD exchange rate could continue to edge higher within this session. The possible target for bullish traders would be at the 200– hour simple moving average at 0.6585.
However, the weekly pivot point at 0.6563 could still provide resistance for the currency exchange rate during the following trading session.
