"The New Zealand dollar fell as the imposition of new tariffs on Canadian lumber exports to the US stoked fears about what growing trade protections will have on trade-orientated nations."
— Rebecca Howard, New Zealand Herald
Pair's Outlook
The plummeting of the New Zealand Dollar against the Greenback continued on Wednesday, as by the middle of the day's trading session the currency exchange rate had touched the 0.6880 mark. The currency pair is clearly heading for the monthly S1, which is located at the 0.6870 level. During the last decline the currency rate has passed the support of the supporting up-trend, which is drawn by connecting the December and March low levels. Because of that the closest trend line is located below the 0.68 mark, which is a strong signal at an extension of the decline in the near future.
Traders' Sentiment
Traders are bullish on the pair, as 59% of open positions are long, and 66% of trader set up orders are to buy the Kiwi.
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