© Dukascopy Bank SA
Pair's Outlook
The NZD/USD currency exchange rate continued to once more retreat from the ascending channel pattern's upper trend line during Tuesday'' trading session. However, the rate hit the trend line during the ending phase of Monday's trading after finding support just before that. For the past three sessions the currency exchange rate is being prepped up by the monthly R1 at 0.7298. What seems to be particular for this pair, is that it is sort of ignoring the US presidential election, as it has not lost its volatility and continues to trade in accordance with the previous pattern.
Traders' Sentiment
Traders remain largely bearish, as 66% of open positions remain short. Meanwhile, 60% of trader set up orders are to buy the Kiwi.
© Dukascopy Bank SA