- IG Securities (based on WBP Online)
The resistance cluster around the 0.67 major level kept the New Zealand Dollar from rising against its US counterpart too high. Although the pair suffered some losses in the early trade, keeps trading below 0.67 and experiencing zero volatility to the upside whatsoever, we should not rule out the possibility of the Kiwi regaining its bullish momentum. Technical studies remain bullish, whereas the given pair might also refuse to return under the August high, after having retaken it just yesterday.
Bearish traders' sentiment remains unchanged at 68%. At the same time, the number of orders to sell the Kiwi added three percentage points. The commands now account for 62% of the market.