© Dukascopy Bank SA
- Bank of New Zealand Ltd. (based on Bloomberg)
Pair's Outlook
The Kiwi dollar deteriorated against the US dollar today, trading below 200-day simple moving average (0.7983). However, bulls are still aiming to overcome this level, which is also confirmed by 61.80% Fibonacci level. A breach of 0.8021 (R1 Weekly) would clear the way for 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.
Traders' Sentiment
The SWFX sentiment shows that NZD/USD is slightly overbought, with 58% of all the positions being long at the moment. Consequently, shorts constitute 42% of the market. Within 100 pips from the market price, the stance is neutral as the shares of pending long and short positions are equal.
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