© Dukascopy Bank SA
- Westpac Banking Corp. (based on The New Zealand Herald)
Pair's Outlook
Since the pair broke the weekly PP at 0.8587 on Wednesday it has stayed there; however, a further appreciation has not fallowed. Due to the lack of the bullishness we expect the pair to slip below the weekly PP and to touch the 55-day SMA at 0.8565. Nevertheless, the technical indicators are mostly bullish; therefore, pair's bulls could expect the pair breaking the weekly PP and attacking the weekly R2 at 0.8678 ultimately.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the U.S. Dollar is going to outperform the New Zealand peer. At the same time the gap between the buy (57%) and sell (43%) orders is narrowing.
© Dukascopy Bank SA