© Dukascopy Bank SA
The New Zealand's Dollar has been losing value both against the Euro and the US Dollar. However, a downward tendency versus the latter has been taking place since the last week of April, when the bearish channel emerged on the 4H chart. Despite all efforts to gain value, the Kiwi was pushed back in the afternoon on Friday, and now the bullish correction seems to be less probable. Moreover, the majority of short and medium-term technical studies are currently giving signals to sell the Kiwi and buy the American currency. Additionally, more than 54% of SWFX market participants are bearish on perspectives of this cross, thus reinforcing its negative outlook in the long run.
© Dukascopy Bank SA