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NZD/USD surges to 0.7185 on Friday

© Dukascopy Bank SA
"Autochartist recently identified the breakout of the 4-hour Key Resistance level on the NZD/USD charts. The length of this Resistance level is equal to 75 candles."
– Autochartist (based on investing.com) 


Pair's Outlook
The New Zealand Dollar started Thursday's session by depreciating against the US Dollar. However, at the end of yesterday's trading the pair surged and booked a third consecutive session of gains. On Friday, the Kiwi is continued its march of victory against the US Dollar, as the currency exchange rate reached the 0.7185 mark by 13:45 GMT. In addition to the already score gains, weekly aggregate technical indicators forecast not only a surge for today, but also for the next week. 

Traders' Sentiment 
SWFX traders have increased their bearish stance on the currency pair, as 73% of open positions are short, which indicates that the pair is oversold. In addition, pending orders in the 100-pip range are 65% short.
© Dukascopy Bank SA


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