© Dukascopy Bank SA
- BK Asset Management (based on the New Zealand Herald)
Pair's Outlook
The New Zealand Dollar has continued to reverse some of the previous losses against the U.S. counterpart; moreover, the pair formed a attack towards the major level at 0.79. For now, NZD/USD has not proved its bullishness; although, it is definitely showing more and more of bullish signs. The shorter term technical levels; however, are to downside, suggesting that the pair most likely will decline lower.
Traders' Sentiment
The difference between the amounts of long and short positions open on NZD/USD has narrowed since the previous report. At the moment 51% of the market participants are bearish on the pair. In the meantime, the share of sell orders grew from 66% up to 67%.
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