The New Zealand Dollar surged by 38 pips or 0.59% against the US Dollar on Thursday. The currency pair breached the 50– hour simple moving average on Friday morning.
Everything being equal, 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 0.6650 level.
However, a resistance cluster formed by the 100– hour SMA and the weekly S2 at 0.6609 could provide a barrier for bulls within this session.