© Dukascopy Bank SA
- New Zealand Finance Minister Bill English (based on Bloomberg)
Pair's Outlook
NZD/USD has lost some of its value this week; however, not significantly. At the moment of writing, the pair is hovering around the weekly S1 at 0.8308. However, we expect that and advance towards the weekly PP and down-trend's resistance around 0.8360 might occur. And for the time being a drop below the monthly S1 and weekly S2 at 0.8265 seems unlikely; therefore, a period of consolidation between previously mentioned levels is the base scenario for now.
Traders' Sentiment
The difference between the amounts of long and short positions open on NZD/USD has narrowed since the previous report, at the moment 58% of the traders are bullish.
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