© Dukascopy Bank SA
- BK Asset Management (based on MarketWatch)
Pair's Outlook
NZD/USD has finally left 0.82 behind, meaning 0.8317/0.8291 is now exposed. However, the rate did not make much progress today and is still 70 pips away from the resistance, though there are more bullish (5) than bearish (3) indicators. From below the currency pair is now underpinned by the 200-day SMA, yet another reason to expect kiwi to gain value in the future.
Traders' Sentiment
The bears keep on dislodging bulls from the market, who now take up only 30% of the total amount, even though the price did not deviate far from today's open and largely stayed unchanged. The gap between the buy (63%) and sell (37%) orders widened as well, specifically in favour of the former.
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