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- Doug Steel, Bank of New Zealand Analyst (based on FXStreet)
Pair's Outlook
The pair has slowed down around 0.8086 in the expectation of a potential trend change. In case of the bearish scenario, the first target for the pair is likely to be around 0.7999, where the 200-day SMA lies. However, if the bullish trend continues, we are likely to see NZD/USD hitting Upper Bollinger band at 0.8112.
Traders' Sentiment
The bias on the pair is bullish, and remains unchanged from Friday (58% bulls, 42% bears), according to the SWFX sentiment index. The low volatility and unchanged market participants' sentiment indicates a great extent of uncertainty on the particular pair's future developments.
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