© Dukascopy Bank SA
"There's nothing to suggest the New Zealand side of the story is going to look weak."
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
Throughout this week the pair has fluctuated between monthly R1 and weekly R1; however, at the moment it is trading right where it started on Monday. NZD/USD is strongly supported by weekly PP and monthly R1 at 0.8525/18 and that is giving some bullish impetus to the pair. We expect slight appreciation towards May high at 0.8582; although, if the monthly R1 is broken the pair might fall towards 20-day SMA and weekly S1.
Traders' Sentiment
For the last three day the sentiment among SWFX traders has not changed – 74% expect that the Kiwi will lost value against the greenback. Meanwhile, the percentage of orders set to acquire the currency plunged significantly reaching 4%.
© Dukascopy Bank SA