The New Zealand Dollar has surged by 143 pips or 1.62% against the Canadian Dollar since July 16. The currency pair breached the weekly resistance level at 0.8968 during yesterday’s trading session.
Technical indicators suggest buying signals on all time-frame charts. Most likely, the exchange rate will continue to edge higher during next week’s trading sessions. The potential target will be at the 0.9100 level.
However, a resistance cluster formed by the weekly R1 and the monthly R1 at 0.9031 could provide resistance for the currency exchange rate in the