© Dukascopy Bank SA
- ANZ Bank (based on The New Zealand Herald)
Pair's Outlook
The NZD/USD currency pair managed to regain bullish momentum last Friday. Kiwi stretched even towards 0.75, but stabilised at 0.7488, thus, erasing Thursdays losses completely. Today, however, the NZ Dollar is likely to decline against the Greenback. The nearest support rests at 0.7413, namely the monthly S1, although the New Zealand currency is expected to fall deeper towards the lower Bollinger band or even the weekly S1. Technical indicators retain mixed signals, unable to confirm the scenario.
Traders' Sentiment
Market sentiment slightly improved, but remains bearish at 57% (previously 59%). At the same time, the number of commands to acquire the Kiwi increased from 52 to 61%.
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