The New Zealand Dollar edged higher by 48 pips or 0.73% against the US Dollar on Tuesday. The currency pair tested the weekly pivot point at 0.6610 on Wednesday morning.
As for the following trading session, the NZD/USD exchange rate could continue to surge. A breakout through the upper line of a descending channel pattern might occur today.
However, the weekly PP at 0.6610 could still provide resistance for the currency exchange rate within this session.
