NZD/USD to confirm the down-trend

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"NZD/USD has performed well since the resurgence of the US dollar on 22 October, outperforming all the majors over the period since. And despite dairy prices set to post a second modest decline this week, the NZD should retain support from the RBNZ's less dovish stance indicated on 29 Oct." 
- Westpac (based on FXStreet) 

Pair's Outlook 
The Kiwi's rally last Friday was insufficient to erase the two-week losses completely. Nonetheless, the NZD/USD appears to have entered a corrective down-trend, after having surged for three weeks straight. The NZ Dollar tested the trend-line earlier today, but due to the price opening in front of the weekly PP, the commodity currency is having trouble to maintain trade close to the down-trend. Technical studies suggest a rally today, even though there is little room for that, leaving the possibility for a decline to 0.67 open. 

Traders' Sentiment 
Traders' outlook towards the Kiwi improved, as 48% of all positions are now long (previously 44%). The number of orders to acquire the NZD, however, declined from 45 to 38%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.