The New Zealand Dollar has surged by 57 pips or 0.85% against the US Dollar since Friday’s trading session. The currency pair breached the upper boundary of a descending channel pattern on Monday morning.
Given that a breakout has occurred, buyers could continue to pressure the exchange rate higher during the following trading session. The possible target for bulls would be at the 0.6740 level.
However, the weekly resistance line at 0.6722 might provide a barrier for bullish traders within this session.
