"Despite inflation heading in the opposite direction to the Fed's target, the market still has high conviction that the Fed will hike rates next month."
— Jason Wong, Bank of New Zealand (based on New Zealand Herald)
Pair's outlook
By the middle of Thursday's trading session the New Zealand Dollar seemed to have found support against the US Dollar. The pair found support in the 100-day SMA, which was located at the 0.7061 level. The fall was a result of the pair encountering the first weekly resistance at the 0.7124 level, which is a part of a much stronger resistance cluster. It is quite unclear, when the Kiwi will continue its surge against the US Dollar. However, the pair still remains in a strong upwards aimed trend, and the before mentioned resistance cluster could be approached once more.
Traders' sentiment
Trader bearish sentiment has decreased, as 54% of open positions are short, compared to 59% previously. Meanwhile, 59% of set up orders are to buy the Kiwi.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -8% | -18% | -4% | |
| Orders | 18% | 4% | 10% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Buy | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Sell | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Buy | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Buy | Sell | |
| Aggregate | ↗ | ↘ | ↘ | |