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"The Australian and New Zealand currencies have been undermined on the day by the weakness in regional equity markets. It looks as though Asia was more disappointed than the U.S. equity market that the Fed didn't take stronger action. It's certainly spilling over to both Aussie and kiwi."
- Westpac Banking Corp. (base on Bloomberg)
Pair's Outlook
NZD slumped today as investors stick to a bullish outlook in the jobless claims. Holding above the 200-day ma signals that the pair is likely to turn bullish, however it has to close above 0.7961 today. If bullish scenario to emerge, 0.8012 (upper Bollinger band; R1 Weekly) is going to be the first target for bulls. A breakout here would expose 0.8106 (R2 Weekly) and 0.8162 (Upper resistance line).
Traders' Sentiment
Within SWFX marketplace sentiment of market participants towards NZD/USD is presently mixed, as the shares of bullish and bearish traders are nearly the same, being 54% and 46% of the market, respectively. At the same time sell orders (65%) significantly exceed buy orders (35%) on the pair.
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