© Dukascopy Bank SA
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
As expected the pair continues its retreat, it approached the weekly S1 at 0.7774 today. NZD/USD has not closed below this level since the beginning of November; although, we expect it to happen already this week. Moreover, the weekly technical studies are indicating on a possibility of a decline. While a rebound seems highly unlikely at the moment; although, if the pair's bears fail to break the weekly S1 then a period of consolidation might occur.
Traders' Sentiment
The difference between the long (48%) and short (52%) positions are very stable for almost a three months. Concerning the orders placed 100 pips from the spot, there are now considerably more commands to buy, namely 68% after yesterday's 53%.
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