NZD/USD trades above 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The kiwi is probably relatively fair value at the moment but we can move with further US dollar strength, back towards the bottom end of the ranges again."
- ASB Bank (based on the New Zealand Herald)


Pair's Outlook
Even though for the most of the time the pair is trading below the 0.85 mark it still is supported by the 200-day SMA and weekly S1 0.8492/89. In the short term we might see the pair dipping lower towards the 0.85 as the daily technical indicators are bearish. However, the monthly technical studies are pointing north, suggesting that we will see a rebound in the pair's price. At the moment we would recommend to wait for some more substantial indications on the pair's future movements.

Traders' Sentiment
Even though the gap between the bullish and bearish market participants widened, it still remains rather small. Currently 54% of the traders are long on the Kiwi.
© Dukascopy Bank SA

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