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- Sheldon Slabbert, CMC Markets (based on New Zealand Herald)
Pair's Outlook
The New Zealand Dollar surged against the Greenback in the first half of Monday's trading session, as the currency exchange rate jumped to the newly calculated weekly PP at 0.7055. Previously, on Friday the currency pair marked its eighth consecutive trading session of losses, as it fell down to the 0.7017 level by the end of the day. The Kiwi stumbled and could not pass the weekly PP. That might mean that the rate is set to fall by the end of the day, which is also confirmed by the daily aggregate technical indicators.
Traders' Sentiment
On Monday 58% of traders are short the Kiwi, compared to 54% on Friday. Meanwhile, trader set up orders are neutral bullish, as 51% of pending commands are set up to buy.
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