© Dukascopy Bank SA
- ANZ (based on The Economic Times)
Pair's Outlook
NZD/USD is traded positively together with another Oceania's currency. The kiwi surges rapidly for a fourth straight day and is rather close to the last resistance level - the monthly R3 at 0.9694. The price reached the highest level since August, 2011, as it overcame the major resistance at 0.8477. The pair might be already overbought, as the RSI has a value of 80 in a daily graph.
Traders' Sentiment
Investors have rather opposite sentiments from the price's move. There are 73% of short positions opened, which are based on expectations that the current move is just a short-term spike above the major resistance. Pending orders segment is nearly balanced, as 52% of orders are ready buy the pair.
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