The New Zealand Dollar surged by 48 pips or 0.66% against the US Dollar on Friday. The currency pair breached the 50– and 200– hour SMAs during Friday’s trading session.
All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the 0.7280 level.
However, the weekly R1 at 0.7253 could provide resistance for the currency exchange rate within this session.