The New Zealand Dollar surged by 74 points or 1.12% against the US Dollar on Wednesday. The currency pair breached the upper line of a descending channel pattern at 0.6677 during yesterday’s trading session.
All things being equal, the NZD/USD currency exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the weekly pivot point at 0.6724.
However, bulls could encounter resistance at the psychological level at 0.6700 within this session.
