© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
The New Zealand Dollar is continuing its downfall today, last week the NZD/USD cross lost almost 300 pips, while at the beginning of this week it has lost already almost 100 pips. The technical indicators remain mixed, as a lot of them are to buy or to sell, but there is no consistency. If the weekly S1 at 0.7757 holds then there is at least some possibility of the pair rebounding above the major level at 0.78.
Traders' Sentiment
The traders' sentiment has little changed since the last time of writing, namely it is at 59%. The gap between the buy (37%) and sell (63%) orders placed 100 pips from the spot has widened since the last time of writing.
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