NZD/USD touches 0.85 level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"For the moment, geo-politics will dominate the direction of the kiwi. On the decline in dairy prices, it's hard to see the trend changing, but I suspect the rate of change will slow."
- OMF (based on the New Zealand Herald)

Pair's Outlook
Already from 5th of August the New Zealand's currency has been trading below the 0.85 level and it has tried to surpass this level repeatedly; although, unsuccessfully. As the daily technical indicators are bearish a decline below the weekly PP at 0.8468 is likely. Also the pair's failures around 0.85 level can discourage a considerably amount of the Kiwi's proponents; therefore, causing a retreat. However, if the pair breaches the 0.85 mark then a minor advance could follow.

Traders' Sentiment
The sentiment towards NZD/USD slightly declined, but a majority of the market participants are still expecting the Kiwi to outperform the Greenback, namely 55% of them.
© Dukascopy Bank SA
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