NZD/USD bearish mood adds to gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is a good chance the number [in US non-farm payroll on Friday] will disappoint and that will lead to safe-haven flows like the U.S. dollar."
- Joseph Capurso, strategist at Commonwealth Bank (based on CNBC)

Pair's Outlook

NZD/USD took a plunge today after the release of the optimistic preliminary US GDP data, triggering bearish trend today. Support levels at 0.7470 (S1 Weekly) and 0.7417 (Lower Bollinger band) are going to be the initial target as the bearish trend progresses, however, near 0.7417/0.7368, a consolidation and further trend reversal is likely to happen as bears will face a fierce bullish resistance there.

Traders' Sentiment
The absolute majority of currency traders anticipate the pair to decline further (100%), and within 100-pip range from the market price investors remain strongly bearish on the currency couple (100%).
© Dukascopy Bank SA
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Actual Topics

Fri, 01 Jun 2012 07:47:57 GMT

EUR/USD is slowing down ahead of 1.2300

EUR/USD is closing in on 1.2300, which should be capable of holding the currency pair until the end of the current week and trigger some short squeezing. The rally, however, is likely to be shallow, up to 1.2433 or up to 1.2628/60. The long-term outlook remains negative, thus we should observe more bearish behaviour from the price later in June.

Thu, 31 May 2012 19:15:59 GMT

USD/CAD is likely to weaken on positive Eurozone developments

The pair advanced further today after the US preliminary GDP data showed an increase (1.7% act./1.5% est.), beating analysts' estimates. However, if the bearish reversal takes place, 1.0200 (initial support line) is likely to be targeted by the bears. Once this level is successfully approached, 1.0170 (S1 Weekly) and 1.0082 (200-day ma) are going to be targeted by the currency traders.

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