© Dukascopy Bank SA
- BK Asset Management (based on the New Zealand Herald)
Pair's Outlook
Similarly to other currency pair's NZD/USD has not fluctuated much today, mainly due to the tranquil volatility, which reached the lowest level in a month. The biggest obstacle ahead is the weekly PP and 55-day SMA at 0.7891/0.7901, which halted yesterday's advance. Nonetheless, with the daily and monthly technical indicators being pointed to the north there is a increased likelihood of the pair breaching the previously mentioned levels.
Traders' Sentiment
While the sentiment of the SWFX market participants remains neutral with respect to NZD/USD, since only 51% of traders are short, the share of sell commands is considerable, as it has surpassed the 60% level.
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