NZD/USD denied by 0.8546/33

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The New Zealand economy is in recovery and outperforming its peers, and the kiwi dollar is likely to push higher. The Reserve Bank has a mild tightening bias, and in a world of easy policy and quantitative easing, a tightening bias is all you need to stand out from the pack."
- Bank of New Zealand (based on Bloomberg)

Pair's Outlook

NZD/USD has posted a new 16-month high at 0.8533, but is struggling to preserve upward momentum, facing strong selling pressure. Therefore there is an increasing possibility that the price will return back to the bullish trend-line at 0.8373/56, though technical studies in aggregate say that the surge will be recommenced in a few-week perspective.

Traders' Sentiment
SWFX market participants continue avoiding entering long positions on the New Zealand Dollar, which on average is acquired merely in 26% of trades, in 27% of trades specifically in NZD/USD. Nonetheless, there is no predominance of sell orders (their share is 58%) observed looking at the pending orders.
© Dukascopy Bank SA
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