© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
It seems that NZD/USD might post the first weekly gains in two months, as the Kiwi has held its positions after a strong performance at the beginning of the week. At the same time the daily and weekly technical indicators are still bearish. Very important is to keep the pair's positions above the 0.78 mark for a further appreciation. If the pair fails to do that then we are likely to see a dip closer to this year's low at 0.7709.
Traders' Sentiment
The difference between the amounts of long (51%) and short (49%) positions remains negligible, meaning the sentiment is still neutral. At the same time the gap between the buy (28%) and sell (72%) orders is widening.
© Dukascopy Bank SA