The New Zealand Dollar surged by 47 points or 0.69% against the US Dollar on Thursday. The 100– hour simple moving average provided support for the currency pair during Thursday’s trading session.
Most likely, the exchange rate could continue to climb during the following trading session. The possible target for bullish traders would be near the weekly resistance level at 0.6978.
On the other hand, if the currency exchange rate breaks a support cluster at the 0.6911 area, sellers could target the 200– hour SMA at 0.6876 today
