© Dukascopy Bank SA
"The markets are waiting for a reason to do something and at the moment they haven't got anything."
- Bancorp Treasury Services (Based on New Zealand Herald)
Pair's Outlook
So far, this week we have seen relatively less action in NZD/USD compared to previous week, when we saw it strengthening. Today it has been trading around weekly PP at 0.8445 after yesterday the pair found a strong resistance at 0.8500. It might be impacted by some informational shocks as the officials meet tomorrow; however, we expect it falling towards 20-day SMA and weekly S1 at 0.8372/68.
Traders' Sentiment
There are slightly less people than yesterday considering that the kiwi is going to advance - 28% respectively. Meanwhile, the percentage of orders set to acquire the New Zealand Dollar increased to 47% from 40 day earlier.
© Dukascopy Bank SA