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– Donald Trump, Elected President of the United States of America
Pair's Outlook
By mid-day on Wednesday the Kiwi had retreated back to the before mentioned monthly R1 at 0.7298. Previously, on the announcement of Donald Trump's win in the US presidential race, the NZD/USD currency exchange rate surged and hit the weekly R1 at 0.7401 and broke out of the pattern. Although a breakout is not usually seen as a good thing, if not forecasted, this time a surge was expected. However, the near future outlook for the rate at the moment has become unclear, as it might continue bouncing between the before mentioned levels.
Traders' Sentiment
Traders have not changed their view on the pair, as 66% of open positions remain short. Meanwhile, 56% of trader set up orders are to buy the New Zealand Dollar.
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