NZD/USD analysis: Bulls likely to prevail

Dukascopy Bank Team Dukascopy Bank SA

NZD/USD

Upside risks have been dominating the New Zealand Dollar higher against the US Dollar since Thursday's trading session. The currency pair tested the weekly resistance level at 0.6707 on Friday morning.

Most likely, bullish traders will continue to push the NZD/USD exchange rate higher during the following trading session. The possible target will be near the upper boundary of an ascending channel pattern at 0.6774.

However, the weekly R1 at 0.6707 could provide resistance for the currency exchange rate within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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