© Dukascopy Bank SA
- Westpac Banking Corp. (based on Business Desk)
Pair's Outlook
The Kiwi started the week strong against the US peer on Monday; however, as it turned out later that was almost the only strong performance by the New Zealand's currency through the week. The pair is moving towards this year's low at 0.7662, where we see it slowing down its decline and possibly forming a rebound. Moreover, the strongly bearish weekly technical studies are getting less sure about a further drop.
Traders' Sentiment
The gap between the amounts of long and short positions open on NZD/USD has narrowed even more since the previous report, as they are placed 49% and 51%, respectively. Meanwhile, the share of buy orders grew from 46% up to 58%.
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