© Dukascopy Bank SA
– based on economies.com
Pair's Outlook
The New Zealand Dollar surged against the US Dollar on Friday, as the currency exchange rate moved from 0.7077 at the start of day's trading session to 0.7212 at the end of Friday's trading session. Daily aggregate technical indicators forecast a surge for the Kiwi against the Greenback today and for the rest of the week. However, on Monday morning the pair has moved slightly lower from 0.7212 to 0.7186 by 11:45 GMT.
Traders' Sentiment
Traders continue to be largely bearish on the pair, as 70% of open positions are short on Monday. In the meantime, pending orders in the 100-pip range are 58% long.
© Dukascopy Bank SA