© Dukascopy Bank SA
- OMF (based on the Business Desk)
Pair's Outlook
The pair has not managed to prolong yesterday's advance and it seems somewhat stuck between the weekly/monthly PPs and 55-day SMA. We still expect that the pair will form a triple bottom pattern; therefore, a retreat towards this year's low is mandatory. Although, if the monthly PP turns out to be unbreakable then the pair could test the psychological level at 0.80 once again, before falling towards the 0.78 mark.
Traders' Sentiment
The sentiment towards NZD/USD slightly slid and a majority of the market participants are still expecting the Kiwi to underperform, namely 53% of them. At the same time the gap between the buy (53%) and sell (47%) orders is narrowing.
© Dukascopy Bank SA