© Dukascopy Bank SA
- ANZ Bank New Zealand (based on The New Zealand Herald)
Pair's Outlook
There were no surprises in the New Zealand Dollar's behaviour, as it inched down against the Greenback on Tuesday. However, the Kiwi stretched out to the Bollinger band at 0.6815, which then pushed the given pair back up, forcing it to close trade at 0.6862. The NZD/USD might undergo a slight correction, as it has done for the past month. Gains should be limited by the 0.69 psychological level, which is also bolstered by the monthly S1. Nonetheless, we also should not rule out the possibility of a slump to the July 2010 low, as technical indicators are emitting mixed signals.
Traders' Sentiment
The share of long positions remains unchanged at 58%. The buy orders lost 15 percentage points, accounting for 51% of the market.
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