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"A move back above 80 US cents is not expected unless external assistance is found in the form of a stronger Australian dollar or euro."
- ANZ (based on CNBC)
Pair's Outlook
Compared to yesterday, the New Zealand dollar mildly rose against the US dollar. As the middle term outlook remains negative, bearish investors might expect the next major support levels to be located at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
Traders' Sentiment
Traders' sentiment on the Kiwi dollar/US dollar currency pair has not changed since Tuesday as 53% of investors foresee the pair continuing the rally while 47% of traders hold an opposite view. In addition, 61% of market participants still eye a continuation of the bearish trend over the middle term and 39% of currency traders expect a deeper correction in NZD/USD.
© Dukascopy Bank SA