© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
The Kiwi remains weak relative to the U.S. Dollar as it continued its down-trend that started on the first part of July. Although, at the moment the New Zealand's currency is showing some strength around the 0.85 level. The pair's bulls together with the 200-day SMA and weekly S1 at 0.8493/90 have managed to keep the pair above this mark, even though the overall trend and also the daily technical indicators are to the downside.
Traders' Sentiment
The sentiment remains slightly bullish as 55% of the SWFX traders expect the Kiwi to recover its strength and to appreciate against the U.S. peer. The gap between the buy (62%) and sell (38%) orders placed 100 pips from the spot is more significant for now.
© Dukascopy Bank SA