© Dukascopy Bank SA
– based on Forex Crunch
Pair's Outlook
The New Zealand Dollar had a major surge last Friday against the US Dollar, although it did lose some of those gains on Monday, as most likely profit taking occurred. In the first half of Tuesday's trading session the Kiwi has been regaining those slight losses against the Greenback, as the currency exchange rate was surging and was trading at 0.7203 by 11:15 GMT. The pair faces no resistance up to the level of 0.7308, and the daily aggregate technical indicators also support a surge of the pair later in the day.
Traders' Sentiment
Traders mark the 30th session as largely bearish on the pair, as 65% of open positions are short on Tuesday. In the meantime, pending orders are 61% long.
© Dukascopy Bank SA