© Dukascopy Bank SA
- based on Forex Crunch
Pair's Outlook
The New Zealand Dollar surged on Tuesday against the US Dollar to the 0.7244 level, as some traders expect the currency exchange rate to move to the 0.73 mark. However, by midday on Wednesday the pair had fallen to 0.7183 level by 11:00 GMT. The exchange rate is set to meet with the monthly PP at 0.7163 once again, as it had bounced against it during the past two sessions. However, daily aggregate technical indicators forecast a surge for the pair today, which might happen during the second part of today's trading session.
Traders' Sentiment
Traders are largely bearish on the pair, as 61% of open positions are short on Wednesday. In the meantime, pending orders are 51% long.
© Dukascopy Bank SA