— Kathy Lien, Managing Director, BK Asset Management (based on investing.com)
Pair's Outlook
While the markets expected the fundamental news from the United States, during the first half of Wednesday's trading session the New Zealand Dollar remained flat against the US Dollar. The currency exchange rate continued to fluctuate between the 0.70 mark from the upside and the weekly S1 at 0.6969 from the downside. If the fundamental news don't change the situation drastically from the side of the US Dollar, it is most likely that soon the rate will decline. In that case the next targeted support level will be the weekly S2, which is located at the 0.6927 level.
Traders' Sentiment
SWFX market sentiment remains bullish, as 54% of open positions are long. Meanwhile, 56% of pending commands are to buy the Kiwi.
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