"It's difficult to be bearish given New Zealand's respectable credentials ."
— David Croy, ANZ Bank New Zealand
Pair's Outlook
By the middle of Friday's trading session the NZD/USD currency exchange rate remained close by to the 0.70 level, where it began the session. However, it had been highly volatility to the downside, as the rate had touched the 0.6984 level. That signals a possibility that the rate will end the session lower. In that case it will face the support of the 20-day SMA at 0.6999 before the pair reaches the weekly PP, which is located at the 0.6981 mark. On the other hand the Kiwi might surge to trade against the Buck at the monthly PP, which is at the 0.7033 mark.
Traders' Sentiment
Traders remain bullish, as 59% of open positions are long. Moreover, 58% of trader set up orders are to buy.
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