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- BK Asset Management (based on MarketWatch)
Pair's Outlook
Despite the density of the resistance area at 0.8262/29, mainly created by the 55 and 100-day SMAs, the kiwi continues to appreciate relative to its U.S. counterpart. If the bullish impetus is preserved, NZD/USD may soon reach the monthly R1 at 0.8319. Then the currency pair will be in position to launch an attack on an important level at 0.84.
Traders' Sentiment
An overwhelming majority of the market doubts that the New Zealand Dollar will maintain its current upward course, being that 75% of open positions are short. Concerning the orders, the difference between the buy and sell ones slightly widened, as the share of the former increased from 55% to 58%.
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