NZD/USD slips closer to 0.88 mark

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Yellen might be less dovish, which would push up the US dollar and weaken the kiwi. The employment numbers have been better."
- Westpac Banking Corp. (based on the New Zealand Herald)


Pair's Outlook
At the moment the pair is slowly sliding lower; although, it is still hovering slightly above the major level at 0.88. In case, the Kiwi weakens below the 0.88 mark and also beneath the weekly PP at 0.8788. At the same time we do not exclude a possibility of the Kiwi appreciating slightly higher, however, we are pessimistic on the pair reaching record high at 0.8845. The technical indicators support the sideways trend that we are seeing now.

Traders' Sentiment
An overwhelming majority of the SWFX market participants see the U.S. Dollar to be undervalued against the Kiwi. Right now 73% of traders are short the pair, while merely 27% of them expect the currency to depreciate in price even more.
© 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.