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- But Buiter, former member of the BoE (based on Reuters)
Pair's Outlook
The Kiwi declined only 8 pips versus the US Dollar, surprisingly a lot less than anticipated. On Friday, a rebound should take place after the worse-than-expected US Final GDP data. However, the Fed Chair's statement later today might strengthen the Greenback; hence, the New Zealand Dollar might fall under pressure. The closest support and resistance levels remain unchanged (55 and 100-day SMAs), while the technical studies remain mixed on the daily chart and bearish on the longer time-frames.
Traders' Sentiment
There are still substantially more bears than bulls, as 71% of all positions are short. The portion of buy orders added one percentage point, and now they take up 52% of the market.
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