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"Risk appetite has found some footing"
- Western Union Business Solutions (based on Reuters)
Pair's Outlook
Even though the candle has not yet been completely formed, looks like bulls have finally taken control of the currency pair after a lull. Technical indicators too point to the upside. The nearest resistance that may find itself under a threat of being breached is at 0.8265, whereas 0.8324/37 promises to be a more serious obstacle. Supports at 0.8218 and 0.8185/83, on the other hand, should limit near-term dips.
Traders' SentimentNZD/USD remains oversold to a significant degree, being that 74% of traders are short on the pair and 26% are long on it, making a dip a less likely scenario, since there is no room for more bears. Nevertheless, 68% of orders will impede emergence of a rally, being commands to sell the kiwi.
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