© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
The Kiwi is trading above yesterday's closing price, meaning that it has added to its value today. Moreover, NZD/USD has dropped for eight consecutive days. It seems the pair received a bullish impetus from the major level at 0.77, which was approached yesterday. Nonetheless, we do not expect a strong rebound, to our mind, just a slight reversal of yesterday's losses seems more likely. At the mean time, the technical indicators are mixed.
Traders' Sentiment
The sentiment towards NZD/USD slightly decreased, but a majority of the market participants are still expecting the New Zealand's currency to outperform the buck, namely 56% of them. In the meantime, the share of sell orders grew from 63% up to 66%.
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