© Dukascopy Bank SA
- Citi (based on Reuters)
Pair's Outlook
There were no surprises in the Kiwi's performance on Wednesday, as the NZD/USD pair dropped for the fourth day in a row, reaching the expected level of 0.67. However, technical studies suggest the NZ Dollar might rebound today and even erase this week's losses if the impetus is strong enough. Right now the weekly PP is the only obstacle on the Kiwi's path, preventing it from achieving its goal and climbing over the 0.68 dollars mark. Nevertheless, the pair is to at least remain within the borders of monthly R3 and weekly PP.
Traders' Sentiment
The majority of all traders retain a negative outlook towards the Kiwi, namely 69% (previously 63%). The number of commands to acquire the New Zealand Dollar dropped from 51 to 32.5%.
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