"Currently at 0.7106 in a channel and are looking to continue to the confluence of the 2 Fibs at 0.7150-0.7163 area. Watch for the reversal there."
— Scott Barkley, ProAct Traders (based on investing.com)
Pair's outlook
On Friday the New Zealand Dollar managed to surge against the Greenback until it finally encountered a strong enough resistance level to put the ascent of the pair to a stop. The surge of the pair was stopped by the 38.20% Fibonacci retracement level at the 0.7134 level. None of the other levels of significance, which the Kiwi faced against the Buck, could not provide enough resistance. The situation is a delicate one and should be watched by the pair traders. If the retracement level would be broken, the pair likely would surge to the second weekly resistance at the 0.7179 mark.
Traders' sentiment
Trader bearish sentiment has decreased, as 52% of open positions are short, compared to 54% previously. Meanwhile, 57% of set up orders are to buy the Kiwi.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -4% | -8% | -18% | |
| Orders | 14% | 18% | 4% | |
| 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) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Sell | |
| Aggregate | ↗ | ↘ | ↘ | |