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- London Capital Group (based on Investing.com)
Pair's Outlook
The New Zealand Dollar previously had seven consecutive sessions of gains against the US Dollar, which were wiped out by the two sessions following the UK referendum on whether to stay in or leave the European Union. However, on Tuesday the Kiwi recouped at a cluster of support around 0.6980, as the selloff of risky assets and currencies ended in the markets. The pair started Tuesday's trading session at 0.6998, and at the moment it is at 0.7062.
Traders' Sentiment
In addition to all the technical and fundamental data, the pair is also oversold, as 70% of all open SWFX positions are short. Moreover, pending orders in the 100-pip range are also short, with 72% of orders being bearish.
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