© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
The pair fell below the 0.85 mark; although, the weekly S1 at 0.8461 has stopped the decline for now. NZD/USD has lost almost 400 pips from its peak at 0.8839 (set at 10th of July). Despite the recent retreat the pair's daily technicals remain strongly bearish; therefore, further weakening might be expected. Nonetheless, the monthly technical indicators are slightly bullish and that could encourage the pair's bulls to slow-down the down-trend.
Traders' Sentiment
The sentiment towards the pair is currently completely neutral, after yesterday 56% of the SWFX traders expected the pair to appreciate. In the meantime, the share of orders to enter the market with a sell trade edged up to 43% from 37% yesterday.
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