© Dukascopy Bank SA
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
NZD/USD has prolonged its decline to four straight days, as the pair approached the monthly S2 at 0.8176 today. With this move a drop towards the 0.81 mark does not seem that unlikely; however, at the same time it is possible that the pair's bulls will try to push the Kiwi back above the 0.82 level. Nonetheless, we expect the pair to touch the weekly S3 at 0.8139 in the upcoming trading sessions, if the pair does not close above the major level at 0.82 today.
Traders' Sentiment
Market sentiment seems to be stuck at 56% of them being bullish, as it has not changed for four consecutive trading days. Concerning the orders placed 100 pips from the spot, there are now more commands to sell— namely 54%.
© Dukascopy Bank SA