© Dukascopy Bank SA
– Reserve Bank of New Zealand (based on New Zealand Herald)
Pair's Outlook
The Kiwi continued its falls against the US Dollar during Thursday's trading session, and the fall of the currency exchange rate was still far from over. By the middle of Thursday's trading session the currency pair had already touched the 0.7190 mark. However, it managed to regain some of its losses, as volatility persisted. Although, it is clear that the rate will make an attempt to move below the support cluster below it. The cluster is made up of the weekly S2 at 0.7190 and the monthly PP at 0.7184.
Traders' Sentiment
Traders remain bearish on the pair, as 68% of trader open positions are short. Meanwhile, 59% of trader set up orders are to sell the Kiwi.
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