NZD/USD running towards 0.77

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We saw a little bit of a pullback in the dollar and a little bit of a reduction in risk appetite as a result of the Ebola story. Next week we're going to likely shift our focus back on to more fundamental stories, with the Fed probably going to headline next week's economic calendar."
- Commonwealth Foreign Exchange (based on Bloomberg)


Pair's Outlook

Today the Kiwi is trying to negate at least some portion of the losses made during the last two days, but the bears should prevent any attempts of the price to get close to 0.7970. There the resistance is formed by the monthly PP, four-month down-trend and 23.6% Fibo. The base case scenario is still a slide down to 0.77, which should be overcome eventually, though it may take a few weeks to accomplish.

Traders' Sentiment

The standoff between the bulls and bears drags on, as neither has an advantage over the other. On the other hand, there is a widening gap between the buy (35%) and sell (65%) orders placed 100 pips from the current market price.
© Dukascopy Bank SA

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