© Dukascopy Bank SA
- Royal Bank of Canada (based on Bloomberg)
Pair's Outlook
This has been only the third time when NZD/USD has appreciated for two days in a row since the down-trend on 10th of July began. It seems that the pair is ignoring the daily technical indicators that are largely bearish, but instead going with the bullish monthly technicals. However, the volatility is currently rather low, thus we would not expect any major moves in the near term. At the moment the 0.94 level remains the target for the bullish traders.
Traders' Sentiment
The pair's advance is increasing the confidence among the traders that the Kiwi will reverse some of its previous losses, the sentiment reached 63% today. In the meantime, the share of sell orders grew from 35% to 48%.
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