The New Zealand Dollar surged by 62 pips or 0.90% against the US Dollar on Wednesday. The currency pair tested the 0.6940 level during yesterday's trading session.
As for the near future, bears are likely to pressure the exchange rate lower during the following trading session. The possible target for bearish traders would be near the 0.6865 level.
However, the 100– hour simple moving average at 0.6884 could provide support for the currency exchange rate in the short-term.
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