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– BNZ (based on Business Recorder)
Pair's Outlook
The Kiwi initially surged against the US Dollar, as Janet Yellen began to speak. However, the rate fell afterwards to trade around the level of 0.7230, where it remained mid-Monday. The currency exchange rate began Monday's trading session lower than the previous closing price of 0.7244, as it started day's trading at 0.7237. Although, the New Zealand Dollar stopped depreciating against the Greenback, as the rate encountered support provided by the 20-day SMA. Due to that and the fact that the daily aggregate technical indicators forecast a surge, it is most likely that the pair will move higher by the end of the day.
Traders' Sentiment
Traders are 74% short on the pair, and pending commands are 56% to sell on Monday.
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