"Traders will also be watching for the release of the Reserve Bank of Australia's latest policy meeting minutes today."
— Jonathan Underhill, Business Desk (based on New Zealand Herald)
Pair's outlook
During the first half of Tuesday's trading session the New Zealand Dollar failed to move in a clear direction against the US Dollar, as the pair remained just above the weekly PP, which is located at the 0.6877 level. However, the Kiwi managed to trade more in limbo around the level of significance rather than just above it. This factor, combined with the incoming resistance of the 20-day SMA at 0.6921, creates the hypothesis that the currency exchange rate will decline in the near future. In that case the support cluster near the 0.68 mark would be the next target.
Traders' sentiment
Traders remain bullish in regard to Kiwi, as 55% of open positions are long. Moreover, 64% of pending commands are set to buy.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 10% | 14% | 20% | |
| Orders | 28% | 22% | 30% | |
| 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) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |