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- Jeffrey Halley, Market Pulse (based on investing.com)
Pair's Outlook
The New Zealand Dollar continues to fall against the US Dollar, as by the middle of Tuesday's trading the currency exchange rate was set to fall to the weekly S1, which was located at 0.6956 level. However, during the early hours of the session the Kiwi did made an attempt to break higher against the Buck, but it failed. The one thing, which is on the mind of most market participants, who are involved in trading the New Zealand Dollar, is when the consolidation of positions and subsequent rebound of the rate will occur. It is highly likely that it will be near the weekly S1.
Traders' Sentiment
Traders are almost neutral regarding Kiwi, as 52% of open positions are short. Meanwhile, trader set up bullish orders have decreased, as 58% of orders are set to buy the Kiwi, compared to 71% on Friday.
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