© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
The New Zealand's currency is having a one the bigger daily advances today, with the pair approaching the daily PP at 0.8473. Although, it might be just a temporary rebound since the pair is hovering around June's low at 0.8403, which could scare some of the bearish traders away. At the same time this bounce could indicate to the end of NZD/USD down-trend that started at the beginning of July, when the Kiwi reached the highest level in years at 0.8839. June low is the key level to our mind.
Traders' Sentiment
A considerable majority of traders stay optimistic with respect to the single Kiwi. Right now as many as 58% of them expect it to gain value against the U.S. Dollar.
© Dukascopy Bank SA