"Holding up well."
— Jason Wong, Bank of New Zealand, (based on New Zealand Herald)
Pair's outlook
As it was forecasted, the New Zealand Dollar did not manage to break the resistance put up by the 20-day SMA against the US Dollar near the 0.6950 level. Due to that reason a decline began, which lasted into Tuesday. During the depreciation of the Kiwi, the currency exchange rate passed the support provided by the weekly and monthly PPs above the 0.6900 mark. It is most likely that the currency pair will reach its next target in its decline, as the weekly S1 is located at the 0.6851 level, and it is the closest available level of support to the pair.
Traders' sentiment
Traders remain bullish in regard to the Kiwi, as 58% of open positions are long. Moreover, 67% of trader set up orders are to buy.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 16% | 20% | 18% | |
| Orders | 34% | 18% | 28% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |