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- George Davis at RBC Dominion Securities Inc. (based on Bloomberg)
Pair's Outlook
The NZD/USD pair seems to be respecting the descending flag pattern, which is forming since the end of September 2014. The USD appreciated versus the Kiwi and the pairs' daily low settled at 0.7618. However, the position failed to hold and a rebound followed, surpassing the Bollinger band at 0.7664. The Relative Strength Index indicator continues to show a slight divergence on a daily chart.
Traders' Sentiment
The market participants became more certain over the strength of the NZD. Respectively, 50% of opened trades are long, 4% more from previous the number. Meanwhile, 23% of traders will buy the pair if it hikes more than 50– pip, while 34% of all are awaiting the 100– pip range hike.
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