© Dukascopy Bank SA
- Westpac Banking Corp. (based on the New Zealand Herald)
Pair's Outlook
NZD/USD is trading around the monthly S1 and weekly S2 at 0.8367/62, after reaching this level a day earlier. Most likely, the pair's decline will be stopped, if the Kiwi consolidates around the current trading levels. However, if the pair closes below the previously mentioned levels then a decline towards the 0.93 mark seems likely. Meanwhile, the monthly technical indicators are bullish, thus a positive scenario for the Kiwi should not be excluded.
Traders' Sentiment
The sentiment towards the pair remains unchanged since yesterday. The majority (61%) of the SWFX traders are long on the pair, that said they are anticipating a rebound. In the meantime, the share of buy orders grew from 52% up to 63%.
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