© Dukascopy Bank SA
- SB Institutional (based on the New Zealand Herald)
Pair's Outlook
NZD/USD gained slightly today, the pair appreciated above the 55-day SMA and it is trying to break the monthly PP at 0.8570, which has been the main driver this month. In the short term we see the Kiwi making some small dips and climbs; however, in longer term the pair could approach the weekly R1 at 0.8629. Instead the majority of the daily technical indicators are largely giving ‘sell' signals.
Traders' Sentiment
The distribution between the proponents and opponents of the Kiwi's appreciation relative to the greenback remains more or less the same as 24 hours ago—26% and 74% accordingly.
© Dukascopy Bank SA