© Dukascopy Bank SA
- HiFX (based on The New Zealand Dollar)
Pair's Outlook
For the time being the Kiwi is also on the rise, successfully gaining ground and outperforming the US Dollar. The New Zealand Dollar also faces a relatively strong resistance cluster just above today's opening price, which could ultimately trigger a decline. However, technical indicators suggest the NZD/USD pair is in for a third consecutive rally this week, as they keep giving bullish signals today. A disappointment from the Fed would provide the given pair with a fundamental boost, which would be sufficient to overcome the immediate supply area, thus, allowing to take another step closer towards the four-month down-trend.
Traders' Sentiment
Now 72% of traders have a negative outlook towards the Kiwi, whereas the portion of sell orders edged up from 54 to 60%.
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