© Dukascopy Bank SA
– based on Reuters
Pair's Outlook
During the first half of Thursday's trading session the Kiwi had no gains to show against the US Dollar. The currency exchange rate was more volatile to the upside, as it struggled with reaching the first weekly resistance at 0.7347. Although, the rate did not reach the weekly R1, as it kept struggling to even bend the upper Bollinger Band at 0.7338. The outlook seems that it is going to take more time for the rate to surge, as the Bollinger band retreats. However, it can be clearly seen, that the rates has formed and upward channel during this week.
Traders' Sentiment
Traders are 72% short on the pair, and pending commands are 58% to buy on Thursday.
© Dukascopy Bank SA