- Janet Yellen, Fed's Chair (based on WBP Online)
The NZ Dollar behaved in accordance with the forecast, as the given pair suffered substantial losses yesterday. The NZD/USD fell under the 0.73 level and found support around 0.7230. Technical indicators are now showing mixed signs, but we still expect more weakness. However, in the weekly timeframe a rebound is anticipated, meaning that the immediate support cluster might cause the Kiwi to bounce back, most likely at the end of the week.
Bulls keep prevailing over bears, as still 54% of traders have a positive outlook towards the Kiwi. At the same time, the number of orders to acquire the New Zealand Dollar added ten percentage points. The commands now account for 69% of the market.