I will not be surprised if the Hedge funds would want to manage mid year performance, keeping it above 0.712 in the week ahead
reports indicating the kiwi being in the month to come and the US Dollar
Alternative view could be that 2016 closed at 0.69195, Q1 was up 1.23% closing at 0.70049.
At Friday's close the kiwi is 5.2% up YTD. As hedge fund if you want to manage expectations this midyear performance could be seen as too high, year-end projections best case scenario is around 1.5%-2% vs 2016 but most likely to be around 0.5%-1%
If this scenario plays out we could see the week ahead close below 0.708
From a technical point of view I cant see it staying at current levels much longer. Drop early in the week and then manage the alternative above?
Anything below 0.73758 is still bearish