© Dukascopy Bank SA
– Imre Speizer, Westpac (based on New Zealand Herald)
Pair's Outlook
By mid-day on Thursday the NZD/USD exchange rate had dropped below the 0.7 level. Particularly, the Kiwi depreciated and touched the 0.6972 level against the US Dollar, which is a 5 month low level. As many analysts, including Dukascopy, forecasted the Trump Jump has an aftermath continuation, as the Dollar continues to strengthen after a one day rebound on November 20. The rate is likely to fall until the 0.6964 level, where the first weekly support level is located at. If the rate passes it, the pair will fall to as low as 0.6910, where the second weekly support awaits.
Traders' Sentiment
Traders have decreased their bearish sentiment by 5%, as 56% of open positions were short on Thursday. However, trader set up orders were bullish, as 63% of pending commands were to buy the Kiwi.
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