© Dukascopy Bank SA
- Westpac (based on FXStreet)
Pair's Outlook
The NZD/USD currency pair slightly failed to meet expectations, as it dropped as low as 0.6530, rather than 0.6540. The Kiwi is now attempting to recover and retest the down-trend this week. Even though technical indicators retain mixed signals, the 55-day SMA recently crossed the 100-day one to the upside, providing the given pair with a buy signal, suggesting a bullish trend is on the way. Nevertheless, it is uncertain until the down-trend is broken. The cluster around 0.6550 is the main resistance on the Kiwi's path, which first has to be broken before the trend-line is to be tested.
Traders' Sentiment
Although not as strong as on Friday, but traders' sentiment remains bullish at 58%. The share of buy orders inched up from 39 to 40%.
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