© Dukascopy Bank SA
"Markets are cheering the apparent victory of the pro-EU, probailout New Democracy party in the weekend's Greek elections. A New Democracy-led Greek government is seen as more likely to keep Greece in the EU for longer."
- Bank of New Zealand (based on WSJ)
Pair's Outlook
NZD/USD managed to hold above the 55-day ma and it is currently approaching 200-day ma as the Greek vote . If bullish momentum to advance further 0.7961 (200-day ma) is going to be the first target for bulls. Once this line is left behind, 0.8012 (Upper Bollinger band; R1 Weekly) and 0.8106 (R2 Weekly) will be in focus among bullish investors.
Traders' Sentiment
Even though presently the American Dollar is the most popular and the New Zealand Dollar is the least popular currency, traders' sentiment is mixed on NZD/USD, as 56% of positions are long and 44% of them are short.
© Dukascopy Bank SA