"The dollar extended Wednesday's gains after the Federal Reserve viewed that the recent soft U.S. economic data is transitory, boosting prospects of a June interest rate hike."
— Michael G. Wilson, Bloomberg
Pair's outlook
The New Zealand Dollar continued to decline against the Greenback during the first half of Thursday's trading session. The currency exchange rate declined previously, on Wednesday, as expected, and the Thursday's decline is just a continuation of the rise of the Buck against the Kiwi. The currency pair is set to continue lower until it slowly reaches the 0.6794 level, where the monthly S1 is located at. However, the decline might be slowed down by other support levels. For example, the lower Bollinger band near the 0.6840 is almost certain to slow down the Kiwi's fall on Thursday.
Traders' sentiment
SWFX traders remain bullish regarding the New Zealand Dollar, as 57% of open positions are long. Moreover, 66% of trader set up orders are to buy the Kiwi.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 14% | 22% | 12% | |
| Orders | 32% | 28% | 44% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Sell | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |