© Dukascopy Bank SA
- Bancorp Treasury Services (based on the New Zealand Herald)
Pair's Outlook
Previous week was not any different from the one's before as the pair depreciated below the 200-day SMA at 0.8503 and prolonged its down-trend. At the same time NZD/USD is still hovering in the boundaries of a longer period up-trend that started at the beginning of September 2013. In case the pair dives beneath this up-trend's support around 0.8450 then that could encourage the pair's bears even more and a sell-off could begin.
Traders' Sentiment
The pair's sentiment remains unchanged for a third straight trading day, with 57% of traders being bullish. Concerning the orders placed 100 pips from the spot, there are now slightly more commands to buy—55% after Friday's 52%.
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