The New Zealand Dollar surged by 57 points or 0.79% against the US Dollar on Thursday. The currency pair breached the weekly pivot point at 0.7234 during yesterday’s trading session.
Technical indicators suggest buying signals on the daily time-frame chart. Most likely, bullish traders are likely to continue to pressure the exchange rate higher within this session.
However, the 200– hour simple moving average could drive the currency exchange rate lower during the following trading session.
