© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
The Kiwi/Dollar continue to hover between the daily and monthly PP at 0.7754/0.7832, as it has done for the whole week. The pair is seriously struggling to breach the resistance (monthly PP and 55-day SMA) level at 0.7832/37. One of the reasons for that may be the bearishness of the daily and weekly technical indicators that send ‘sell' signals. If the pair dives beneath the weekly PP then most likely it will face the monthly S1 at 0.7687.
Traders' Sentiment
The sentiment of the SWFX market participants remains neutral with respect to NZD/USD, since only 51% of traders are short. Concerning the buy and sell commands placed, their numbers are completely identical at the moment.
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