- Barclays (based on CNBC)
The US Dollar tumbled against its New Zealand counterpart after the FOMC's statement. The Kiwi edged up, but was unable to pierce the resistance trend-line. At the end of the trading day the pair settled at 0.7481. Nevertheless, the downward pressure is likely to persist, as suggested by the technical studies. Closest support consists of several important levels around 0.7450, although it might not prove reliable. The price is still vulnerable to a decline to 0.7323.
For the third consecutive day market sentiment remains unchanged with 30% of traders being bulls. The number of sell orders, on the other hand, increased, as 70% of all commands are set to sell the New Zealand Dollar.