"With little domestic economic news scheduled, traders will likely look for offshore events to drive the direction to the kiwi."
— Business Desk (based on New Zealand Herald)
Pair's outlook
By the middle of Monday's trading session the New Zealand Dollar had regained the initial losses of the morning hours of the day against the US Dollar, and a surge had begun. Due to the fact that the resistance of the 100-day SMA at the 0.7060 level has been broken, it can be expected that the currency exchange rate will soon reach for the next resistance level, which is the 200–day SMA at the 0.7109 mark. However, a surge above that level without any difficult is unlikely, as just above the SMA three additional support levels reside.
Traders' sentiment
SWFX traders have not changed their opinion regarding the pair, as 52% of open positions are short, compared to the same amount on Friday. Meanwhile, trader set up bullish orders have increased, as 57% of them are to buy the Kiwi, compared to 55% previously.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -4% | -4% | 12% | |
| Orders | 14% | 10% | 10% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Sell | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Sell | Sell | |
| Aggregate | ↗ | ↘ | ↘ | |