NZD/USD Two Scenarios Likely

The New Zealand Dollar surged by 42 pips or 0.58% against the US Dollar on Thursday. The surge was stopped by the 200– hour simple moving average during yesterday’s trading session.

As for the near future, the exchange rate would continue to edge higher. Buyers could pressure the NZD/USD pair towards the 0.7260 level during the following trading session.

However, technical indicators suggest on the 4H time-frame chart that the currency exchange rate is likely to edge lower today.

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