© Dukascopy Bank SA
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
Today the NZD/USD cross has not changed substantially; although, it continues to decline gradually. As discussed previously this week the target remains to be this year's low at 0.7662; however, from that point onwards the Kiwi could form a rebound. Moreover, the weekly technical studies remain strongly bearish, while the daily and monthly ones are still mixed. There is a possibility that the pair is slowing down its decline already around the monthly S1.
Traders' Sentiment
The difference between the long (48%) and short (52%) positions has been very stable for nearly three months. Concerning the orders placed 100 pips from the spot, the situation has stabilised and 54% of them are set to sell.
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