The New Zealand Dollar surged by 30 pips or 0.42% against the US Dollar on Tuesday. The currency pair tested the upper boundary of a descending channel pattern at 0.7200 during yesterday’s trading session.
Technical indicators suggest selling signals on the daily time-frame chart. Most likely, the NZD/USD exchange rate could edge lower during the following trading session.
However, given that the currency exchange rate is currently trading near the upper line of the channel pattern, a breakout could occur within this session
