© Dukascopy Bank SA
- Cameron Bagrie, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's Outlook
The Kiwi depreciated by the middle of Tuesday's trading session, as the rate once more fell below the 0.69 mark, against the US Dollar. Previously, the currency exchange rate jumped to the upside during Monday's trading, as the Greenback lost ground against all other currencies. However, by the end of the session the pair was once more in the middle of the resistance cluster, around which the rate has been dancing since December 19. In general, the pair is still positioned to fall, as the closest support level is located at 0.6834.
Traders' Sentiment
Traders have not changed their view on the Kiwi. 65% still short the pair. Meanwhile, 58% of trader set up orders were to buy the Greenback in favor against the New Zealand Dollar.
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