© Dukascopy Bank SA
– based on New Zealand Herald
Pair's Outlook
The New Zealand Dollar is suffering major losses against the US Dollar on mid-Friday. Moreover, the currency exchange rate already fell largely during Thursday's trading session. By midday on Friday the Kiwi had moved out of the both established and ascending patterns against the US Dollar, in which it had been trading since the middle of July. At 12:30 GMT the currency pair had already touched the monthly PP at 0.7240. However, daily aggregate technical indicators forecast, that the rate will remain unchanged during today's trading session.
Traders' Sentiment
Trader sentiment has remain largely unchanged, as 65% of open positions are short, compared to 63% on Thursday. In the meantime, pending commands are 58% to sell the pair.
© Dukascopy Bank SA