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- Westpac Banking Corp. (based on TVNZ)
Pair's Outlook
NZD/USD executed a huge 80-pip spike down, which breached the 55-day and 100-day SMAs for a while yesterday. However, the price returned back and today is traded just beneath the weekly S1 level and the 20-day SMA at 0.8475. The pair settled back in the lower part of the major resistance line at 0.8477, thus it is likely that the price will remain there and then gradually depreciate towards the main moving averages located at 0.8406/0.8391.
Traders' Sentiment
Today SWFX market delivers very similar segmentation of opened positions market, as there are still 27% of long and 73% of short positions. Pending orders market is almost in an equilibrium, as 52% of placed orders are the sell ones.
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