© Dukascopy Bank SA
- Westpac Banking (based on TVNZ)
Pair's Outlook
The pair is bounded by the 100-day and 200-day SMAs, fluctuating in this range already for the second week. Seems that the price has lost its momentum and experiences a consolidation to accumulate more concrete future sentiments. In a downside scenario, the first support should be 0.8230, the 200-day SMA, and in an upside case, the price would face the 20-day SMA at 0.8348 and 55-day SMA at 0.8368.
Traders' Sentiment
The New Zealand Dollar remains heavily pushed by negative sentiments. Currently the buy side has only 27% of the spot market and the sell side 73%. Pending order segment demonstrates similar figures, as 34% of orders are placed for a long positions and 66% for a short position.
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