© Dukascopy Bank SA
– based on New Zealand Herald
Pair's Outlook
The New Zealand Dollar booked more losses and passed new support levels against the Greenback, as the currency exchange rate was in the middle of the fifth consecutive trading session on Friday. In the past two sessions the pair has been bouncing from one level of significance to another, as the rate was in the middle of a broad cluster. However, by middle of Friday's session the rate had reached below all of the short term support levels. The exception was the lower trend line of the long term channel up pattern, which still might reverse the direction of the Kiwi.
Traders' Sentiment
SWFX traders decreased the bearish outlook, as 55% of total open positions are short. In the meantime, pending commands are almost neutral, as 51% of set up orders are to buy.
© Dukascopy Bank SA