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- Westpac Banking Corp. (based on Business Desk)
Pair's Outlook
The NZD/USD has reached the monthly and weekly S1 at 0.7687/41 that have to support the pair, if we want to see a further development of the triple bottom pattern. Nevertheless, there is still a relatively large potential for a extended retreat towards 0.75 mark. The weekly technical studies are also to the downside, while the daily and monthly ones remain pointed to sideways, implying that the pair could consolidate.
Traders' Sentiment
The gap between the amounts of long and short positions open on NZD/USD has disappeared, as the amount of them are completely identical at the moment. Meanwhile, the share of buy orders grew from 58% up to 59%.
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