© Dukascopy Bank SA
- based on Forex Crunch
Pair's Outlook
The Kiwi fell sharply on Wednesday against the US Dollar. However, the pair found support in the cluster, which was located below it. The New Zealand Dollar is surging on Thursday, as it came out of the support cluster below it, and the pair was located at 0.7181 by 11:15 GMT. The support cluster below ranges from 0.7163 to 0.7133, and it is comprised of the monthly and weekly pivot points, 38.20 Fibonacci retracement and the 20-day SMA. Daily aggregate technical indicators forecasted and continue to support the surge for the pair today.
Traders' Sentiment
Traders are largely bearish on the pair, as 73% of open positions are short on Wednesday. In the meantime, pending orders are 51% long.
© Dukascopy Bank SA