NZD/USD surges with high volatility on Thursday

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Reserve Bank of New Zealand reduced its key rate by 25 basis points to 2 percent. While the cut was expected by all 16 economists surveyed by Bloomberg, the swaps market had priced in a 20 percent chance of a half-point reduction." 
– based on Bloomberg  

Pair's Outlook
The New Zealand Dollar after all bounced off the upper Bollinger band against the US Dollar at 0.7268 on Wednesday, and the pair ended the day below the first weekly resistance level at 0.7228. However, the pair started Thursday's trading session higher than the previous close and surged to 0.7250 by 11:45 GMT. In addition, during the first half of the day's trading session the Kiwi had touched the 0.7347 level against the Greenback. The 0.73 is a psychological resistance level, which now has been proven to be breakable, which might propel the currency pair further north.  

Traders' Sentiment
SWFX traders continue to be bearish, as 74% of open positions were short on Thursday. In the meantime, pending commands remained bullish, as 53% of open positions were to buy.
© Dukascopy Bank SA
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Fri, 12 Aug 2016 06:30:05 GMT

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Thu, 11 Aug 2016 13:40:04 GMT

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