© Dukascopy Bank SA
- Westpac Banking Corp. (based on the New Zealand Herald)
Pair's Outlook
Yesterday the pair fell below the weekly PP at 0.8744 suggesting that it might lost its bullishness; at the same time, it woke up pair's bulls who managed to push the Kiwi higher. At the moment the pair is trading just slightly more than 10 pips below the major level at 0.88. We do not believe that the Kiwi could breach the 0.88 mark and we expect that this level will put a substantial pressure on the bulls—decline till 0.87 seems possible.
Traders' Sentiment
The difference between the amounts of long (30%) and short (70%) positions open on NZD/USD has narrowed slightly since the previous report. Concerning the buy and sell commands placed, their numbers are completely almost identical at the moment.
© Dukascopy Bank SA