© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
After climbing for the first two weeks of October, the NZD/USD cross lost its bullishness and it has posted three consecutive weekly losses. The daily and weekly technical indicators point to the south, thus we might anticipate the pair's down-trend to continue and that of course means that this year's low will be breached. The bearish target is the weekly and monthly S1 at 0.7669/65, with a possible extension towards 0.76.
Traders' Sentiment
There is not much trading done with the NZD/USD cross and its sentiment has not changed for five consecutive trading days as 51% of the traders remain bearish. Meanwhile, the percentage of orders set to acquire the Dollar dropped to 33%.
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