NZD/USD trades around weekly S1 at 0.8538

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"85.20 (US cents) has decent support (for the kiwi) for the time being - it may have done enough to attract some buyers out of the woodwork." 
- HiFX (based on the New Zealand Herald) 

Pair's Outlook 
Today NZD/USD has little changed, after yesterday the pair dived beneath the monthly PP at 08570. This might be the case when the Kiwi consolidates around the current trading levels; however, we expect it to depreciate slightly lower towards the major level and weekly S2 at 0.8500/0.8496. The technical indicators are more or less mixed. 

Traders' Sentiment 
Bearish side of open positions returned to 75% level today; down from 74% yesterday. Concerning the orders placed 50 pips from the spot, there are now significantly more commands to sell—63% compared to yesterday's 29%.
© Dukascopy Bank SA

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