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- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
The Kiwi is continuing what it started yesterday, namely a rebound, after reaching the lowest level this year at 0.7610. Nonetheless, the daily and weekly technical studies are still bearish and that could limit. The pair need to surpass the weekly PP at 0.7777, which could serves as a good support for a further appreciation. If the pair fails to breach the level then there is a high possibility of it sliding towards this year's low once again.
Traders' Sentiment
While the sentiment of the SWFX market participants remains neutral with respect to NZD/USD, since 50% of traders are long, the share of sell commands still dominates, and it has already reached a substantial level—73%.
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