The New Zealand Dollar has surged by 3.41% against the Canadian Dollar since the beginning of November. The currency pair breached the 0.9060 during yesterday’s trading session.
All things being equal, the exchange rate is likely to continue to edge higher during the following sessions. The potential target for the NZD/CAD pair would be near the 0.9200 level.
However, the weekly resistance level at 0.9068 could provide resistance for the currency exchange rate in the shorter term.