- Blackwell Global (based on Investing.com)
The New Zealand Dollar was volatile against the US Dollar on Thursday, as it bounced between, above and below the monthly R1 at 0.6988 and weekly PP at 0.7033. However, at the end of day's session the currency exchange rate had not moved much from where it began, as pair opened the session at 0.7037 and ended it ten pips above at 0.7048. These levels are above the weekly PP and indicate, that the rate could go up to the trend line at 0.7117. On Friday morning the Kiwi continued to slowly appreciate against the US Dollar, as it surged to 0.7060.
Traders are bearish on the pair, as 56% of open positions are short, and it indicates that there might be not enough room for a surge of the exchange rate.