© Dukascopy Bank SA
— Jonathan Underhill, Business Desk (based on New Zealand Herald)
Pair's Outlook
During the first half of Friday's trading session the New Zealand Dollar lost ground against the US Dollar, as the currency exchange rate finally picked a direction and passed a cluster of support. Due to that factor the cluster at the 0.6987/94 level was providing support in the second half of the day, it is highly possible that the currency exchange rate will further fall to the next support level. The closest support level is at the 0.6943 level, where the weekly S2 is located at. On the other hands a fundamental event might force the Kiwi into a test of the previously mentioned resistance.
Traders' Sentiment
Traders are neutral on the pair, as 50% of open positions are long. However, 69% of trader set up orders are to buy the New Zealand Dollar.
© Dukascopy Bank SA