- BK Asset Management (based on The New Zealand Herald)
The New Zealand Dollar behaved according to the forecast yesterday. The NZD/USD currency pair tested the upper channel border, but stabilised at the 0.67 major level, also bolstered by the weekly PP, as was foretold. Today the Kiwi is expected to maintain trade within the channel's borders and decline against the American Dollar, possible reaching the lower Bollinger band around the 0.66 major level. Technical studies are also bolstering the chances of a negative outcome with their bearish signals.
Bullish traders' sentiment remains unchanged at 71%. At the same time, the number of orders to purchase the NZ Dollar gained seven percentage points. The commands now take up 49% of the market.