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"Investor sentiment is still being driven by prospects of fresh quantitative easing in the U.S. This is benefiting high-yielding assets"
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Rally above 0.8021 was not sustained, leading to a precipitous fall of NZD/USD, which might extend beyond 0.7991 (200 day SMA) and reach subsequent support at 0.7960/30, where a consolidation phase should be commenced. In case the pair moves even lower, it will find additional support levels at 0.7884/68 and 0.7835/04, which at the moment remain safe.
Traders' SentimentSWFX traders' sentiment did not change since the last report and stays mixed towards NZD/USD. Currently the ratio between long and short positions is 51% to 49%, respectively, implying indecision of the market with respect to what trend the currency couple will adhere to in future. On the other hand, the portion of sell orders (62%) significantly exceeds the share of buy orders (38%) placed on the pair.
© Dukascopy Bank SA