© Image watermark
- ANZ Bank New Zealand Ltd. (based on Bloomberg)
Pair's Outlook
The NZD/USD pair was less volatile than the day before, with market participants trading in almost 72 pip range. Regardless, the USD managed to weaken a little versus the NZD and the cross hiked up to 0.778 during on Wednesday. On the upside, the 55– SMA will act as the next resistance level at 0.779, close to the weekly R1. A slight RSI divergence indicates the possibility of the New Zealand dollar to gain even greater strength.
Traders' Sentiment
At the time of writing, none of the 50– pip pending orders were seen opened. However, 26% of traders hold their expectations on a bullish side and open their 100– pip pending orders.
© Image watermark