- FPG Securities (based on Market Watch)
The New Zealand Dollar prolonged its rally for another day, but met resistance in face of the 100-day SMA and the weekly R3 around 0.6666. The Kiwi's flame is yet to be extinguished, as the given pair is being boosted by renewed pressure on the Greenback. As a result, a hike is expected to take place today, with the closest resistance located at 0.6710, namely the August high and the monthly R3. Technical indicators also retain their bullish signals, bolstering the possibility of a positive outcome.
There are exactly three quarters of traders holding short positions today. At the same time, the number of buy orders added 24 percentage points. The commands now take up 54% of the market.