© Dukascopy Bank SA
– based on Bloomberg
Pair's Outlook
The New Zealand Dollar is fluctuating between the weekly pivot point at 0.7212 and monthly pivot point at 0.7163 against the US Dollar. However, the pair seems to be falling in general, as the currency exchange rate had been more volatile to the downside by 11:45 GMT, compared to the opening price of 0.7194. Although, the pair might surge by the end of the week, as the newly compiled, weekly aggregate technical indicators forecast a northwards movement for it during today's session and by the end of this week.
Traders' Sentiment
SWFX traders continue to be bearish, as 70% of open positions were short on Monday. In the meantime, pending commands shifted and became bearish, as 59% of open positions were to sell.
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