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- TD Securities (based on FXStreet)
Pair's Outlook
The NZD/USD currency pair slightly overperformed, as it managed to settle higher than the Thursday's opening price, but was still unable to pierce the resistance in face of the weekly R3. Today the Bollinger band is also bolstering this resistance and might cause the Kiwi to bounce back, breaching the support located at 0.6643 and even to erase yesterday's gains. However, in case the immediate resistance fails to keep the Kiwi from advancing, the monthly R1 at 0.6767 should come into play, the pair lacks momentum for that to occur.
Traders' Sentiment
Bears keep pressuring the bulls, as 64% of all open positions are short (previously 62%). Meanwhile, the number of orders to sell the Kiwi added 24 percentage points up to 76%.
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