© Dukascopy Bank SA
– Ilya Spivak (based on Daily FX)
Pair's Outlook
The New Zealand Dollar is surging against the US Dollar on Thursday, as the currency exchange rate jumped on the dovish FOMC minutes released on Wednesday. However, the FOMC minutes did not change the previously set path of the pair, as it had already rebounded against the weekly pivot point at 0.7212 on Wednesday and begun to climb. It is most likely that the pair will now rise up to at least the level of 0.7337, where the first weekly resistance is located at. In addition, daily aggregate technical indicators support such hypothesis of the pair's movement.
Traders' Sentiment
SWFX traders remain short on the pair, as 61% of open positions are bearish on Thursday. In the meantime, pending commands are 62% long.
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