"This week's theme has been weakness in commodity prices, driving down the commodity currencies, and that has continued overnight."
— David Croy, ANZ Bank New Zealand (New Zealand Herald)
Pair's outlook
During the first half of Friday's trading the New Zealand Dollar surged against the US Dollar, as it had found support during Thursday's trading in the lower Bollinger band at the 0.6840 level. The pair was approaching the monthly PP from the downside by the middle of Friday's trading. The monthly PP is located at the 0.6925 level. Market participants should watch, whether the monthly pivot point will be passed, or the resistance holds its ground. If it is broken, the 20-day SMA at 0.6957 will be the next target. On the other hand, in the case of a bounce off, the lower Bollinger band will try to support the Kiwi once more.
Traders' sentiment
Traders remain bullish, as 59% of open positions are long. Meanwhile, trader set up orders are 64% bullish.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 18% | 14% | 22% | |
| Orders | 28% | 32% | 28% | |
| 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) | Sell | 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 | ↘ | ↘ | → | |