NZD/USD breaks 100-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We would be cautious of fading this risk-aversion move given the scale of some of the losses in commodity and emerging market currencies."
- BNP Paribas (based on Reuters)

Pair's Outlook

Although NZD/USD has been persistently trying to mount the resistance at 0.8324/09, in the end the currency gave up and, as a result, was pushed back to the monthly pivot point. Previously, this level saved the kiwi from falling lower on several occasions, but it may well be the case in the medium term that the price is going to probe support located near the 200-day SMA—0.8124/05.

Traders' Sentiment

The sentiment remains strongly bearish with respect to NZD/USD—73% of the SWFX market participants expect to see lower trading levels in the future. Concerning the pending orders, as many as 75% of them are to sell the New Zealand Dollar, while yesterday there was a notable prevalence of buy orders, amounting to 26%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.