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- ANZ Bank (based on The New Zealand Herald)
Pair's Outlook
New Zealand Dollar slid for the fourth consecutive day on Tuesday, as weaker-than-expected US data were insufficient to turn the tide. The Kiwi fell towards the monthly and weekly S1s and ended the trading day at 0.7270. However, the technical studies suggest a bullish outcome for the NZD/USD pair today. The New Zealand's currency might edge up if the RBNZ Rate Statement appears to be hawkish at 08:00 PM GMT today. Nearest support lies at 0.7189, while closest resistance rests at 0.7286, represented by the monthly S1 and Bollinger band.
Traders' Sentiment
Traders' confidence in bullishness of the Kiwi improved, as 30% of positions are long. Buy orders also edged up, from 31% to 32%.
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