NZD/USD falls after testing 0.85

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It's more broad-based US dollar weakness rather than kiwi strength." 
- ANZ New Zealand (based on The New Zealand Herald)

Pair's Outlook

Today NZD/USD appreciated further after yesterday's gains; however, it lost its bullish momentum as it met strong resistance at around 0.8512/18 (weekly R2; monthly R1). We expect that the pair is set for further decline and it will break the weekly R1 at 0.8436 easily. We might see a continuous bearish movement towards weekly PP and the pair most likely will consolidate at that level.

Traders' Sentiment

The difference between the long (29%) and the short (71%) was little changed. As for the orders placed 100 pips from the spot, there are now considerably more commands to buy – 43% after yesterday's 21%.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.