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– Rebecca Howard, New Zealand Herald
Pair's Outlook
As it was expected, the Kiwi has fallen to the support cluster near the 0.7190 mark against the US Dollar. However, by the middle of Friday's trading session it was clear that the decline had stopped at the support cluster. During the session, the rate was squeezed in between the weekly S2 at 0.7190 and the monthly PP at 0.7184. Due to the fact that the currency exchange rate has attempted to break out to both sides, it seems unlikely that the Kiwi will continue to decline by the end of the day.
Traders' Sentiment
SWFX trader bearish sentiment has noticeably decreased, as 57% of open positions are short on Friday, compared to 68% on Thursday. In the meantime, 56% of trader set up orders are to sell the Kiwi.
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