© Dukascopy Bank SA
– based on New Zealand Herald
Pair's Outlook
The New Zealand Dollar extended its gains against the Greenback on Wednesday, as the currency exchange rate faced almost no resistance at the beginning of the trading session. Previously, on Tuesday, in contradiction with the expected, fundamental data releases propelled the Kiwi past the strong resistance cluster, which it faced on mid-Tuesday. Due to that, the rate opened Wednesday's trading at 0.7192, with only the 20-day SMA at 0.7198 attempting to hinder a surge.
Traders' Sentiment
SWFX traders have slightly increased their bearish sentiment, as 57% of open positions are short. Meanwhile, pending orders are mostly set up to sell the pair, namely 70% of them.
© Dukascopy Bank SA