© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
NZD/USD remains bearish by setting lower highs and lower lows. Today the pair has reached the weakest trading level since May 2012 at 0.7669; moreover, there is a potential of the Kiwi slipping even lower. One of the reasons for that to happen is the bearish weekly technical studies that are pointing to the south. In case the weekly and monthly S1 at 0.7703/0.7665 breaks then the 0.76 becomes the short-term bearish target.
Traders' Sentiment
Market sentiment remains unchanged as the bearish traders continue to hold 51% of all of the open positions on the pair. In the meantime, the share of orders to enter the market with a buy trade edged up to 56% from 24% yesterday.
© Dukascopy Bank SA