Note: This section contains information in English only."The New Zealand dollar fell as traders took yesterday's weaker-than-expected economic growth figures as further evidence the Reserve Bank won't need to raise interest rates any time soon."
— Business Desk (based on New Zealand Herald)
Pair's Outlook
[ANNOUNCE]During the first half of Friday's trading session the New Zealand Dollar against the US Dollar fluctuated between two levels of significance around the 0.70 mark.[/ANNOUNCE] From the upside the weekly R1 was providing resistance at the 0.7015 level. In the meantime, the monthly S2 at the 0.6987 level provided support. From a technical perspective the currency pair is set to surge, as the weekly R1 will be recalculated and most likely located at a different level on Monday. In addition, the Greenback on all pairs seems to be showing additional strength after the reconciliation of positions that occurred in the aftermath of the Federal Reserve rate hike.
Traders' Sentiment
SWFX traders remain bullish on the Kiwi, as 60% of open positions are long, and 54% of trader set up orders are to buy.
Fri, 17 Mar 2017 16:29:39 GMT
Source: Dukascopy Bank SA
— Business Desk (based on New Zealand Herald)
Pair's Outlook
[ANNOUNCE]During the first half of Friday's trading session the New Zealand Dollar against the US Dollar fluctuated between two levels of significance around the 0.70 mark.[/ANNOUNCE] From the upside the weekly R1 was providing resistance at the 0.7015 level. In the meantime, the monthly S2 at the 0.6987 level provided support. From a technical perspective the currency pair is set to surge, as the weekly R1 will be recalculated and most likely located at a different level on Monday. In addition, the Greenback on all pairs seems to be showing additional strength after the reconciliation of positions that occurred in the aftermath of the Federal Reserve rate hike.
Traders' Sentiment
SWFX traders remain bullish on the Kiwi, as 60% of open positions are long, and 54% of trader set up orders are to buy.