© Dukascopy Bank SA
"Everything is creeping higher, and it seems more like the US dollar is getting further and further behind."
– HiFX (based on the New Zealand Herald)
Pair's Outlook
At last we start to see some movements in the NZD/USD currency pair as it has appreciated throughout yesterday and today. It has managed to break the weekly PP at 0.8560 and to head towards weekly R1, where it found a resistance and took a step back. In our opinion if the pair prolongs its advance and breaks 2014 high at 0.8640, then it might gain momentum and easily breach the weekly R2 at 0.8699.
Traders' Sentiment
An over whelming majority (75%) of the SWFX market participants think that the pair will lose its bullishness. The distribution between the buy and sell orders has widened—28% and 72% respectively.
© Dukascopy Bank SA