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– based on Bloomberg
Pair's Outlook
The Kiwi reached above the 0.73 mark on Thursday against the Greenback, as the rate touched the 0.7347 level during the day's trading session. However, afterwards the currency exchange rate plummeted, as it fell and continued to fall on Friday. By 11:00 GMT on Friday, the pair was at 0.7195, and for a short moment it was at 0.7186 prior to that. If the rate continues to fall, it is likely to find support in the cluster below, which starts with the weekly PP at 0.7163. In the meantime, daily aggregate technical indicators forecast a surge for the pair by the end of today's trading session.
Traders' Sentiment
SWFX traders continue to be bearish, as 73% of open positions were short on Friday. In the meantime, pending commands remained bullish, as 54% of open positions were to buy.
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