NZD/USD trades above monthly PP

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The issue with New Zealand is that this forthcoming interest-rate tightening cycle is fully priced in, the Reserve Bank in March was extremely clear that 125 basis points of tightening is coming this year." 
- TD Securities Inc. (based on Bloomberg) 

Pair's Outlook
It looks like the Kiwi is starting to lose its bullishness, last week the pair fell beneath the 20-day SMA. Right now the pair is supported by the monthly PP at 0.8570; nevertheless, we expect it to slip below this support level towards the weekly S1 and 55-day SMA at 0.8535/15. The vast majority of technical indicators suggest that the pair will climb versus the greenback. 

Traders' Sentiment
The sentiment towards the New Zealand Dollar returned is strongly bearish, being that the percentage of short positions open on NZD/USD has remained at 28%. Bullish side of pending orders, however, rose by 1% and is at 63-73% gauge today depending on the range.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.