© Dukascopy Bank SA
- BNZ Markets (based on WBP Online)
Pair's Outlook
There were no surprises in the NZD/USD's performance on Friday, with the pair stabilising at 0.6725, without even touching the nearest resistance in face of the monthly R1. Today the levels to limit the gains are the weekly PP and the monthly R1, that form a cluster around 0.6755. At the same time, the weekly S1, the 20 and 55-day SMAs form a strong support around 0.6665; however, technical indicators are giving bullish signs, suggesting the Kiwi is to climb higher against the US Dollar today.
Traders' Sentiment
Traders retain a negative outlook towards the NZ Dollar, as 56% of them hold short positions. Meanwhile, the portion of orders to acquire the Kiwi increased from 26 to 37%.
© Dukascopy Bank SA