NZD/USD trims gains

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If the market sentiment is shifting for the fiscal cliff, I think what it does is opens the opportunity for things like Fed policy, which is U.S. dollar bearish, to come to the forefront"
- Camilla Sutton, Scotiabank (based on Reuters)

Pair's Outlook

A recent breach of a bullish trend-line that has been respected by the market since mid-June proved to be false and NZD/USD has already returned within the upward-sloping channel. Nevertheless, the current position of the price is unstable and attainment of higher levels, such as 0.8202/18 and 0.8279/94, is required in order to claim that the pair has preserved its long-term bullish bias.

Traders' Sentiment
According to the SWFX sentiment index, only 28% of market participants presently hold long positions on NZD/USD, while the general attitude towards the kiwi is negative—72% of traders are bearish on it. However, there is a perfect equilibrium between pending buy and sell orders.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.