NZD/USD soars from 0.8294

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Risk sentiment is deteriorating on the back of stock declines, weighing on the Australian and New Zealand dollars."
- Mizuho Securities Co. (based on Bloomberg)


Pair's Outlook

NZD/USD has nearly reached the rising support trend-line, piercing through 0.8331/04 yesterday. Eventually, this turned out to be the case that reminded us of a necessity to wait for a confirmation of a breach, as a hasty decision, before the price has fully formed the candle, could have lead to unwanted consequences. In the meantime, the pair has already passed a resistance line at 0.8381/78 and is poised for additional gains in the near future.

Traders' Sentiment
Traders' sentiment stays unchanged towards the currency pair, since the ratio between the long and short positions is 29% to 71%, accordingly. Such attitude with respect to NZD/USD goes in line with the general negative perception of the kiwi, which is bought only in 30% of cases on average. The distribution between buy and sell orders is 47% to 53%, respectively.
© Dukascopy Bank SA

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