NZD/USD retreats after previous gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"A generally risk off session overnight, with concerns over the Chinese outlook and tensions in the Ukraine weighing on sentiment." 
- ANZ Bank (Based on the New Zealand Herald)

Pair's Outlook

After kiwi's impressive advance against the U.S. Dollar during the last two trading days it has started to make a correction and is currently trading around weekly R1 and 2013 4Q high (0.8548/43). We expect that it will slide towards weekly PP at 0.8445 and a further decline towards major level at 0.8400 is likely. The technical indicators are sending mixed signals; however, we are bearish on this pair.

Traders' Sentiment

The sentiment among SWFX market participants has barely changed as 71% remain bearish and 29% are bullish respectively. In the meantime, the share of orders to enter the market with a buy trade edged up to 38% from Thursday's 19%.

© Dukascopy Bank SA

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