© Dukascopy Bank SA
-Westpac (based on The Wall Street Journal)
Pair's Outlook
NZD/USD did not manage to advance above 83.5 from where it was pushed back below 83 cent mark. It is likely that the pair will be pulled back below summer high at 0.8223, after what it should hover slightly above monthly pivot (R1) at 0.8178.
Traders' Sentiment
Share of short positions increased by 1% during the weekend and bearishness on the pair persists while 71% of positions on the pair are short. However, 66% of all posted orders on the pair are buy orders suggesting we might see a major shift in trader sentiment in the near future.
© Dukascopy Bank SA