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"China's slowdown is bad for the commodity-related currencies."
- IG Markets Securities Ltd. (based on Bloomberg)
Pair's Outlook
The Kiwi-US dollar pair commenced a downward trend and breached the 0.7922 (S1 Weekly) resistance level. Thus, if bearish inertia holds further, investors might expect the next major support levels to be positioned at 0.7886 (50% Fibo) and 0.7812 (Lower Bollinger band), respectively.
Traders' Sentiment
Sentiment on NZD/USD slightly weakened compared to yesterday as 55% of investors expect the pair to sustain an upward trend. Within 100 points from the latest market price, the sentiment is expected to stay bullish as 60% of the currency traders expect the pair to move upwards.
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