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"The jury is still out on whether these steps will prove ultimately successful but at the minimum, the steps buys Europe time to address the underlying structural and debt issues of the euro zone."
- Peter Jolly, National Australia Bank (based on CNBC)
Pair's Outlook
The Kiwi dollar inched higher against the US dollar, and at the moment the pair is heading towards an initial resistance at 0.8082 (61.80% Fibo). Once this level is breached, 0.8166 (R2 Weekly) and 0.8227 (R1 Monthly) are going to be next targets among bullish traders.
Traders' Sentiment
Traders' sentiment on NZD/USD is neutral as 51% of traders are holding short positions contrary to 49% of market participants with long positions. Pending order disposition, 70% of market participants anticipate the pair to commence a deep bearish correction and 30% of traders stick to an opposite scenario.
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