"Right now, it seems quite clear that the RBNZ has far more confidence to deal with an inflation overshoot than the opposite."
— Phil Borkin, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's outlook
After the massive losses suffered during Thursday's trading session, the Kiwi was regaining ground against the Greenback on Friday. The currency rate found support in the lower Bollinger band at 0.6820 during Thursday's trading. However, it was a fundamental move that occurred due to New Zealand's top central banker's comments. On Friday the rate kept finding support in the weekly S1 at 0.6851. Due to that reason it can be expected that the consolidation will reach the weekly PP at 0.6910. However, the breaking of that resistance level is highly unlikely and the decline could continue afterwards.
Traders' sentiment
Traders are bullish on the pair, as 60% of open positions are long, and 65% of trader set up orders are to buy.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 20% | 14% | 2% | |
| Orders | 30% | 36% | 26% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Buy | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |