© Dukascopy Bank SA
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
The Kiwi has jumped, after a informational shock together with the monthly S1 at 0.7687 pushed the pair above the 0.78 level. Now, the pair has to face a cluster of resistances (20 and 55-day SMAs, monthly PP and weekly R1) that is located just above the pair's current price at 0.7832/53. Nevertheless, it will not be an easy task to do, but if the pair wants to continue the current triple bottom formation that could be the case.
Traders' Sentiment
The sentiment towards NZD/USD slightly decreased and now a slight majority of the market participants are expecting the Kiwi Dollar to underperform against the Greenback, namely 51% of them. Meanwhile, the share of buy orders grew from 27% up to 50%.
© Dukascopy Bank SA