"The upcoming vote on the US healthcare bill may well have implications for the USD - amongst other things - and hence the NZD." — Sharon Zollner, ANZ Bank New Zealand (based on New Zealand Herald)
Pair's Outlook
During the first half of Friday's trading session the New Zealand Dollar continued to lose ground against the US Dollar, as the currency exchange rate fell below the 0.70 mark. The pair was about to approach the support cluster located at the 0.0690 level before it suddenly changed its direction. This might be due to the fact that the markets today were expecting the vote on the US healthcare bill. In general markets have been moved more by the US politics than anything else. However, from a technical perspective the currency pair is most likely set to fall to the before mentioned level of support.
Traders' Sentiment
SWFX traders have shifted and become bearish, as 53% of open positions are short on Friday. Moreover, 54% of trader set up orders are to sell the Kiwi.
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