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- David Croy, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's Outlook
The Kiwi traded almost at the yesterday's opening price against the US Dollar by the middle of Tuesday's trading session. Although it might seem that the currency exchange rate remained flat, the Greenback made an attempt to appreciate against the New Zealand Dollar and move the rate below the combined support cluster of the weekly PP at 0.7196 and the monthly PP at 0.7184. In accordance with the principles of technical analysis the rate is set to surge. However, that might not occur, as the President of the US Donald Trump is set to give a speech on Wednesday. Due to that markets will remain stale until the event occurs.
Traders' Sentiment
Traders continue to short the Kiwi, as 56% of open positions are short. However, 56% of open positions are set to sell the Buck.
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