NZD/USD questions resilience of 0.8127/05

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Now that tapering has already started and asset purchases are expected to end in 2014, U.S. dollar liquidity conditions are set to tighten gradually, which will challenge the previously EM-supportive fund flows."
- IS Investment (based on MarketWatch)


Pair's Outlook

Depreciation of the New Zealand Dollar revs up, as none of the nearby supports seem to be sufficient to nullify the downward momentum. If the barricades at 0.8127/05, created by the 2012 lows, 200-day SMA, monthly S1 and the down-trend line, fails to stay intact, the price could fall much lower, potentially down to the major up-trend and the monthly S3 at 0.79.

Traders' Sentiment

At the moment a lot less people (61%) consider NZD/USD as overbought than five days ago, when as many as 73% of positions were short. Still, the sentiment is moderately bearish. As for the orders, the current difference between the buy (45%) and sell (55%) ones is insignificant.
© Dukascopy Bank SA

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