The New Zealand Dollar surged by 55 pips or 0.75% against the US Dollar on Monday. The NZD/USD currency pair tested the 0.7340 level during yesterday’s trading session.
As for the near future, the exchange rate could continue to trend higher in an ascending channel pattern. The potential target for buyers will be near the 0.73800 level.
However, the weekly R1 at 0.7350 could provide resistance for the currency exchange rate within this session.