© Dukascopy Bank SA
- Westpac (based on FXStreet)
Pair's Outlook
On Thursday the NZD/USD currency pair remained relatively unchanged, having edged only four pips higher. Technical indicators today suggest that the Kiwi is to sustain a loss against the US counterpart, but the pair appears to be reluctant to move lower. In case bears to prevail, the weekly S1 at 0.6710 should limit the losses, also being bolstered by the 100-day SMA and the Bollinger band. On the other hand, a successful rally is to contained by the immediate resistance in face of the weekly PP, resting at 0.6779. However, we believe trade is to close with the NZ Dollar remaining in limbo today.
Traders' Sentiment
Bullish market sentiment remains unchanged, as 55% of all open positions are still long. At the same time, the share of sell orders edged higher from 52 to 70%.
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