The New Zealand Dollar surged by 79 points or 1.18% against the US Dollar on Thursday. The currency pair breached the upper boundary of an ascending channel pattern on Friday morning.

Given that a breakout has occurred, the exchange rate could continue to edge higher during the following trading session. The potential target for the NZD/USD pair would be at the 0.6833.

However, the weekly R2 at 0.6786 could provide resistance for the currency exchange rate in the shorter term.

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