© Dukascopy Bank SA
- Westpac Bank (based on New Zealand Herald)
Pair's Outlook
The NZD/USD cross has fluctuated mostly between 0.81 and 0.82 levels, while today it is hovering around the 0.8150 mark. At the middle of the week the pair dropped below the 0.81 level and a repeated decline remains a concern for the bullish traders, as the majority of daily and weekly technical indicators are bearish. At the same time a decline below the weekly S1 at 0.8083 seems unlikely, as the 2014 low is near at 0.8052.
Traders' Sentiment
The gap between the bearish and bullish SWFX traders is little changed, as the amount of bulls in the market has increased by 1% to 58%. The distribution between the buy and sell orders is wider—63% and 37% respectively.
© Dukascopy Bank SA