© Dukascopy Bank SA
- FxPro (based on CNBC)
Pair's Outlook
Judging by today's price action, NZD/USD does not seem to be willing to give up on breaching 0.84, a level which historically has proven to be rather significant, if we look at the highs posted since last year's September. For now the weekly S1 is enough to keep the currency pair afloat, but most of the international banks' forecasts imply the rate is expected to move en route to 0.81 this quarter.
Traders' Sentiment
For the time being the SWFX market participants are reluctant to change their view on NZD/USD, being that the ratio between the longs and shorts is largely unchanged—at the moment it is 28% to 72% accordingly. Speaking of the orders, there is no notable difference between the buy (52%) and sell (48%) ones.
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