"The US dollar trajectory looks more positive."
— Mark Johnson, OMF (based on New Zealand Herald)
Pair's Outlook
During the first half of Monday's trading the New Zealand Dollar remained almost unchanged against the US Dollar near 0.6940. However, the currency pair was positioned to fall to the next notable support level, as the weekly S1 was located at the 0.6906 level. The reason for no changes from a technical viewpoint was the support provided by the lower Bollinger band at 0.6925. Although, markets were expecting the speech of Janet Yellen later in the day, which would fully confirm the incoming Fed rate hikes and force the Buck into a surge.
Traders' Sentiment
Traders have not changed their opinion, as 57% of open positions are long on Monday. Meanwhile, 58% of trader set up orders are to buy the Kiwi.
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