© Dukascopy Bank SA
- Cameron Bagrie, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's Outlook
The New Zealand Dollar remained rather unchanged in the first half of Friday's trading session against the US Dollar. The Kiwi continued to fluctuate around the monthly S1 at 0.6903 against the Greenback. However, it could be clearly seen that the pair in the three recent consecutive sessions has been more volatile to the downside. Moreover, at 12:00 GMT the pair had begun to move lower, away from the monthly S1. Due to that it is almost sure that the rate will fall to the weekly S1 at 0.6850.
Traders' Sentiment
SWFX sentiment remains largely bearish, as 65% of open positions were short on Friday. In the meantime, 56% of trader set up orders were to sell the Kiwi.
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