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"Markets rallied after some positive words from Boehner on trying to solve the fiscal cliff .The kiwi should squeeze up on the day."
- ASB Institutional (based on The New Zealand herald)
Pair's Outlook
Yesterday's significant bullish advance did not manage to prevail, as today the NZD/USD currency pair experienced a slight bearish reaction, however the downtrend is not expected to last for long. At the particular moment the price is gradually moving towards the monthly PP at 0.8218, which is very likely to change the direction of the prevailing downtrend. The overall indicator outlook, however, is neutral, therefore no significant tendency changes are expected in the nearest future.
Traders' Sentiment
Traders at SWFX maintain downtrend expectations, since 74% of traders hold short positions. The distribution of orders as well shows slight anticipation of the bearish tendency, as 59% of traders ordered to sell the kiwi Dollar.
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