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"As long as the door is open to QE3, it is difficult to see an environment where the dollar can prove materially and sustainably strong. Accordingly, we continue to expect the euro to trend lower, but avert a collapse."
- Camilla Sutton, Scotia bank (based on Reuters)
Pair's Outlook
The Kiwi Dollar/US Dollar currency pair is trading almost flat below 200-day simple moving average (0.7983), however, bulls do not lose hope to pierce the level, which is also confirmed by 61.80% Fibo. A breach of this initial resistance level would clear the way for 0.8021 (R1 Weekly) and 0.8054 (Upper Bollinger band), accordingly.
Traders' Sentiment
Traders' sentiment on NZD/USD is neutral as 52% of traders are holding short positions contrary to 48% of market participants with long positions. Pending order disposition, 56% of market participants anticipate the pair to reiterate bullish trend and 44% of currency traders expect NZD/USD to move downwards.
© Dukascopy Bank SA