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"There seems to be dollar demand as investors may want to square positions before some events like the ECB meeting."
- Bangkok Bank Plc. (based on Bloomberg)
Pair's Outlook
The New Zealand dollar slightly fell against the US dollar today, though for now the pair is trading flat. If bullish reversal continues, 0.8082 (61.80% Fibo) is likely to be the first target for bulls. A breakout here would expose 0.8166 (R2 Weekly) and 0.8227 (R1 Monthly).
Traders' Sentiment
The currency couple remains neutral with 49% of investors holding long positions contrary to 51% of traders keeping short positions on NZD/USD. Since yesterday nothing has changed as short and long positions are equally allocated: bullish and bearish investors hold equal number of orders (50%/50%).
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