NZD/USD drops, approaches 0.7941

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The market continues to speculate on the chances of QE3. The bias for the Australian and New Zealand dollars is higher in the short term."
- Bank of New Zealand Ltd. (based on Bloomberg)

Pair's Outlook

The Kiwi dollar deteriorated against the US dollar today, trading below 200-day simple moving average (0.7983). However, bulls are still aiming to overcome this level, which is also confirmed by 61.80% Fibonacci level. A breach of 0.8021 (R1 Weekly) would clear the way for 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.

Traders' Sentiment
The SWFX sentiment shows that NZD/USD is slightly overbought, with 58% of all the positions being long at the moment. Consequently, shorts constitute 42% of the market. Within 100 pips from the market price, the stance is neutral as the shares of pending long and short positions are equal.
© Dukascopy Bank SA
Back to articles

Actual Topics

Thu, 19 Jul 2012 07:11:02 GMT

EUR/USD to trade sideways

EUR/USD continues to consolidate just above support at 1.2247 after several repeated attempts to close below it, thus proving to have lack of bearish momentum. The pair is likely to remain flat for now, but should be able to erode the initial level and a subsequent one at 1.2161 in the longer term. In the meantime, rallies are to be

Wed, 18 Jul 2012 15:17:32 GMT

The US dollar dives deeper against the CAD; aims at 1.0100

The greenback slightly pairs previous daily losses against the Canadian dollar, though the downward pressure still weighs on the pair. In case a bullish reversal emerges, 1.0170 (PP Weekly) is going to be an initial resistance line for currency traders. If this level is left behind, investors might encounter the second and third resistance lines at 1.0229 (55-day SMA) and 1.0298 (Upper Bollinger band; R2 Weekly),

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.