- ANZ Bank New Zealand (based on The New Zealand Herald)
The NZD/USD pair behaved in accordance with the forecast. The New Zealand Dollar rallied on Wednesday and ended trade just under the resistance trend-line. Today, the Kiwi should turn the tide, as the trend-line provides a solid obstacle; however, the level might be breached amid weak US fundamental data tomorrow. The technical indicators are mainly showing mixed signs, while the nearest support rests around 0.7540. In case there is a rally, it is likely to be limited by a resistance cluster around 0.7655.
Both net positions and net orders declined. Percentages of short position and sell orders are now the same, they account for 74% of the totals.