© Dukascopy Bank SA
- ANZ (based on CBNC)
Pair's Outlook
Previously resistance area at 0.8338/31 proved to be unable to contain upward impetus of the price, meaning that NZD/USD has opened a path towards a rising trend-line at 0.8404. In the meantime, the pair is undergoing a correction, though the advancement is unlikely to be delayed for long and we should not return back to the 200-day SMA at 0.8266/48.
Traders' Sentiment
A distinct minority (28%) of positions on NZD/USD are long. The same percentage is observed in different NZD crosses on average, making the kiwi one of the least preferred currencies in the foreign exchange market. The ratio between the buy and sell orders is 40% to 60% respectively.
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