Thu, Feb 25, 2021 @ 20:00 GMT
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NZD/USD Breaks Channel

The New Zealand Dollar jumped by 73 basis points or 1.03% against the US Dollar on Wednesday. The currency pair breached the upper line of a descending channel pattern on Thursday morning.

Given that a breakout has occurred, the exchange rate could continue to edge up during the following trading session. The possible target for the NZD/USD pair would be near the 0.7240 area.

However, a resistance level at 0.7209 could provide a barrier for the currency exchange rate within Thursday’s session.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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