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- Labour finance spokesman David Parker (based on New Zealand Herald)
Pair's Outlook
The New Zealand's currency cannot find the end of its current retreat, the pair has fallen significant 700 pips from its peak on 10th of July. Moreover, this week and this day has not been any different than the trend, as we have witnessed four consecutive daily losses and today could be the fifth. At the moment, the pair is trading below the monthly S2 at 0.8176 and the next support level (weekly S3) is just slightly lower at 0.8139; however, it is not likely to hold.
Traders' Sentiment
Today the sentiment finally moved as it reached 59%, after sitting at 56% for four straight days. Regarding the orders placed 100 pips from the spot, there are now slightly more commands to sell—58%, 4% more than yesterday.
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