© Dukascopy Bank SA
- OMF (based on The New Zealand Herald)
Pair's Outlook
The New Zealand Dollar appreciated towards the monthly R1 at 0.8704, after yesterday when the currency weakened below this level. The daily technical indicators are strongly bullish; therefore, in the short run we could see the pair testing the weekly R1 at 0.8747. Even though, the Kiwi continuous to be strong and to trade around the 0.87 level we do no think that it could challenge this year's high at 0.8780. We anticipate it fluctuating around current levels.
Traders' Sentiment
At the moment of writing 58% of the SWFX market participants are expecting the New Zealand currency to lose value against the U.S. peer. At the same time the gap between the buy (19%) and sell (81%) orders is widening.
© Dukascopy Bank SA