© Dukascopy Bank SA
- Nikko Asset Management Co. Ltd. (based on Bloomberg)
Pair's Outlook
The New Zealand Dollar continues to trade above the 0.81 level, after it breached the weekly PP at 0.8152 earlier today. Moreover, the major level at 0.81 has proved itself as a reliable support. The majority of the daily and weekly technical studies are pointing to the downside. Although, if the pair remains supported around current levels then we are more likely to see a sideways trend then an up-trend. At the moment a test of 2014 low at 0.8052 is not very likely.
Traders' Sentiment
A considerable majority of traders stay optimistic with respect to the New Zealand's Kiwi. Right now as many as 57% of them expect it to appreciate against the U.S. Dollar. In the meantime, the share of buy orders grew from 37% up to 62%.
© Dukascopy Bank SA