"The New Zealand dollar rose after figures showed a stronger-than-expected gain in first-quarter retail sales, but is tipped to stay in its recent range until this week's dairy auction."
— Paul McBeth, Business Desk
Pair's Outlook
By the middle of the day's trading session on Monday the New Zealand Dollar had almost reached the resistance of the monthly PP, which is located at the 0.6925 level, against the US Dollar. The currency exchange rate is highly unlikely going to continue the surge after reaching the pivot point, as it is strengthened by the additional resistance of the 20-day SMA at 0.6931 and the weekly R1 at 0.6936. Most likely the rate will decline afterwards and continue on its path lower.
Traders' Sentiment
Swiss market sentiment remains bullish, as 57% of trader open positions are long, and 61% of trader set up orders are to buy. However, these numbers are lower than on Friday.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 14% | 20% | 14% | |
| Orders | 22% | 30% | 36% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Sell | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | ↘ | ↗ | ↗ | |