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- Brown Brothers Harriman (based on CNBC)
Pair's Outlook
The currency pair came closer to the trend-line, but from a side different to the one we are used to. There is a substantial probability NZD/USD will confirm 0.7777/48 as the support and attempt to recommence a recovery, which potentially could stay with us until the resistance at 0.8175 is encountered. Beyond this level trading is highly unlikely in the medium term.
Traders' Sentiment
While the dip in AUD/USD reduced the share of longs, a decline in NZD/USD drew in more bullish traders who exploited cheaper levels to get into a trade. Right now the long positions total to 62%, leaving shorts in a minority with 38%. As for the orders, the percentage of buy ones grew up to 43% from 37%.
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