"Despite inflation heading in the opposite direction to the Fed's target, the market still has high conviction that the Fed will hike rates next month."
— Jason Wong, Bank of New Zealand (based on New Zealand Herald)
Pair's outlook
[ANNOUNCE] By the middle of Thursday's trading session the New Zealand Dollar seemed to have found support against the US Dollar. [/ANNOUNCE] The pair found support in the 100-day SMA, which was located at the 0.7061 level. The fall was a result of the pair encountering the first weekly resistance at the 0.7124 level, which is a part of a much stronger resistance cluster. It is quite unclear, when the Kiwi will continue its surge against the US Dollar. However, the pair still remains in a strong upwards aimed trend, and the before mentioned resistance cluster could be approached once more.
Traders' sentiment
Trader bearish sentiment has decreased, as 54% of open positions are short, compared to 59% previously. Meanwhile, 59% of set up orders are to buy the Kiwi.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -8% | -18% | -4% | |
| Orders | 18% | 4% | 10% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Sell | |
| Aggregate | ↗ | ↘ | ↘ | |