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"If Obama stays in power — as polls seems to indicate at the moment — U.S. monetary policy is widely expected to stay very accommodative"
- Danske Bank (based on MarketWatch)Pair's Outlook
The currency pair now faces a resistance line at 0.8290/92, though given the usual leisurely pace of change of NZD/USD lately, it is not in danger until tomorrow. Subsequent goals for bulls lie at 0.8337/42 and 0.8397. Still, we may not write off a decline to 0.8237/18 or 0.8206/0.8187, though such weakness should be only a temporary phenomenon, since the price is in a clear up-trend with the beginning of it dating back to Jun 11.
Traders' Sentiment
SWFX traders' sentiment is generally negative with respect to NZD/USD, since 66% of market participants entered short trades, assuming that a chance of a rally is higher than probability of a decline, while only 34% of them took long positions. Concerning orders, 51% of them are buy orders and the rest are to sell the kiwi.
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