© Dukascopy Bank SA
- Morgan Stanley (based on CNBC)
Pair's Outlook
NZD/USD carries on wobbling in the vicinity of the support zone mainly formed by the rising trend-line and the monthly S1. The area, however, is unlikely to hold the pair for a prolonged period of time, considering that the daily as well as the weekly technical indicators suggest there is still room left for the kiwi to get even weaker, specifically to test 0.7506/02.
Traders' Sentiment
The SWFX sentiment is largely unchanged with respect to the New Zealand Dollar—61% of all market participants trading in this currency pair continue to expect underperformance of the U.S. Dollar relative to its counterpart from Oceania, whereas in the other crosses 49% of positions are long the kiwi.
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