© Dukascopy Bank SA
- Credit Suisse Group AG (based on Bloomberg)
Pair's Outlook
The Kiwi fell below the weekly PP at 0.8358, after climbing yesterday. The next key level is around the 0.83 mark, as there is a nine-month low, weekly S1, that could try to stop the current retreat. However, the daily and weekly technical studies are pointing to the downside, which is a bad sign for the bullish traders. In case the pair slips below the 0.83 level then the next target level is monthly S1 and weekly S2 at 0.8265/62.
Traders' Sentiment
The sentiment towards NZD/USD has decreased by 3% since yesterday and as of today 58% of the traders have opened long positions on the pair. The gap between the buy (61%) and sell (39%) orders placed 100 pips from the spot is more significant.
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