"The White House announced that the US corporate taxes will be cut by 15% as part of Donald Trump's ‘major' fiscal plans."
— Ipek Ozskardeskaya, London Capital Group
Pair's Outlook
By the middle of Tuesday's trading session the New Zealand Dollar had lost all gained ground since April 11 against the US Dollar. The currency exchange rate had plummeted and reached below the 0.6950 level. The reason was an announcement made by the White House that the Donald Trump's promised tax cuts are actually moving forward, and a press conference regarding the matter will be held on Wednesday. From a technical perspective there is still room for the rate to fall, as the lower trend line of the long term ascending pattern is located at the 0.6915 level.
Traders' Sentiment
Traders remain bullish on the pair, as 63% of open positions are long. Moreover, 68% of trader set up orders are to buy the Kiwi.
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