© Dukascopy Bank SA
– based on New Zealand Herald
Pair's Outlook
The New Zealand Dollar traded between the weekly and monthly pivot points against the US Dollar by mid-Friday. Previously, on Thursday the currency exchange rate fell below the weekly pivot point located at 0.7284. The Friday's fluctuations occurred between the levels of 0.7280 and 0.7229, which means that the weekly PP was not touched during first half of the trading session, and the rate reached not only below the monthly PP at 0.7240, but also below the 55-day SMA at 0.7233. Due to that, it is most likely that the rate will end the day lower.
Traders' Sentiment
Now 62% of traders have a negative outlook towards the Kiwi. However, pending commands are neutral, as 50% of all orders are to buy and sell the New Zealand Dollar.
© Dukascopy Bank SA