"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me."
— Donald Trump (based on Bloomberg)
Pair's Outlook
Due to Donald Trump's comments the New Zealand Dollar has managed to break the long term down-trend line against the US Dollar. Moreover, the rate is positioned for additional gains in the near future. By the middle of today's trading session the pair passed the resistance put up by the weekly R1 at 0.6997 and the 20-day SMA at 0.7006. Due to that reason the range up to the 0.7033 level is free. At that level the monthly PP is located without any additional support levels. It is possible that the pivot point will be broken, and the rate will reach the weekly R2 at 0.7056.
Traders' Sentiment
Traders are almost neutral, as 53% of open positions are long. Meanwhile, 54% of pending commands are to sell.
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