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- Gaitame.com Research Institute Ltd. (based on Bloomberg)
Pair's Outlook
The currency pair has been capped by 0.8453/35, which did not let the price to test an additional resistance zone at 0.8492/76. The focus is now on supports, the closest one to the spot of which stretches from 0.8307 to 0.8289. In case it is breached, the next area to attempt to prevent further losses will be encountered at 0.8267/18, reinforced by both 55 and 100-day SMAs.
Traders' Sentiment
While the kiwi is still the least frequently bought currency (in 26% of cases), the buck has given up its place as the most popular currency in favour of the Japanese Yen (bought in 62% of cases). Regardless, there is a strong bearish bias towards NZD/USD, as 70% of traders are currently holding short positions on the pair. Distribution between buy and sell orders is 65% to 35%, respectively.
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