© Dukascopy Bank SA
© Dukascopy Bank SA
– Con Williams, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's Outlook
By the second half of Monday's trading the New Zealand Dollar managed to stay above the 0.70 mark against the Greenback. However, from a technical perspective the currency exchange rate was still positioned to move lower, as during the Friday's fundamental fall of the Buck the rate did not reach the monthly S2, which is located at 0.6987. In general, the rate was rather unchanged due to market participants taking profit and the US Dollar consolidating across the board. However, the continuation of the fall of the Kiwi against the Buck is still expected.
Traders' Sentiment
Traders are almost neutral regarding Kiwi, as 52% of open positions are short. Meanwhile, trader set up bullish orders have decreased, as 58% of orders are set to buy the Kiwi, compared to 71% on Friday.
© Dukascopy Bank SA
© Dukascopy Bank SA