© Dukascopy Bank SA
– based on New Zealand Herald
Pair's Outlook
By midday on Friday the New Zealand Dollar traded higher than it closed the session on Thursday against the US Dollar. However, the currency exchange rate struggled to pass the resistance put up by the 38.20% Fibonacci retracement at 0.7134, as it attempted to break through it and failed. The pair also had retreated to the first weekly support at 0.7822 during the first half of the day. However, the outlook for the Kiwi is positive, as there can be seen an upward aimed trend set for the few past trading sessions.
Traders' Sentiment
SWFX traders continue to approach total neutrality, regarding the pair, as 53% of open positions were long on Friday, compared to 54% on Thursday. In the meantime, pending commands are almost neutral, as 51% are to buy the Kiwi.
© Dukascopy Bank SA