NZD/USD pauses advancement

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We remain constructive on the USD, but recognise that it may struggle to regain momentum in the immediate future."
- BNP Paribas (based on CNBC)

Pair's Outlook

NZD/USD effortlessly pierced through the 55 and 100-day SMAs last week, but stopped moving upwards once it approached the monthly R1. Consequently, the pair is likely to consolidate above 0.8259 before challenging 0.8319. Should this resistance be breached, the kiwi will have a good opportunity to launch an attack on 0.84, which has already stopped a number of such attempts in the past.

Traders' Sentiment

At the moment a substantial portion (73%) of the traders consider the New Zealand Dollar to be overpriced, since they are presently holding short positions on NZD/USD. Concerning the orders set near the spot (100 pips up and down from it), 61% of them are set to purchase the kiwi.
© 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.