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- Millennium Global (based on CNBC)
Pair's Outlook
The Kiwi edged lower against the US Dollar on Thursday, with downside volatility limited by the 0.65 major level, rather than the 55-day SMA. Even though the range between the 55 and 100-day SMAs is even narrower today, a break in either direction is possible. The second area to stop the NZ Dollar from further losses is located around 0.6470, namely the monthly S1 and the Bollinger band. Meanwhile, the weekly PP is the next resistance in case the 100-day SMA gets pierced today.
Traders' Sentiment
Today 60% of all positions are long (previously 55%). The buy and the sell orders broke out of the equilibrium, with only 45% of all orders to acquire the NZD.
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