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- ANZ Bank (based on The New Zealand Herald)
Pair's Outlook
New Zealand Dollar got pressured by the US Dollar on Thursday, amid the US data having better figures than expected. However, the pair did advance at first, though a resistance cluster forced it to turn around, resulting in a plunge down to 0.7530. Technical studies suggest a rally, as all time frames have bullish outlooks on the pair. Meanwhile, resistance represented by the weekly R1 stands on the Kiwi's path, and it will attempt to repel the pair's attack.
Traders' Sentiment
Distribution between the long and short positions was subject to a small change, as 41% of traders are now bullish and the remaining 59% are bearish. Meanwhile, the share of buy orders rallied ten percentage points, and now they account for 57% of all commands.
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