Note: This section contains information in English only."Overall, the outlook for NZD is deemed as bullish until the current stop-loss is taken out (adjusted higher to 0.7030 from 0.6860)."
- UOB (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Despite the New Zealand Dollar opening with a bullish gap on Thursday, it was unable to climb significantly higher against the US Dollar, also unable to pierce the ascending channel's resistance line.[/ANNOUNCE] As a result, the NZD/USD currency pair is expected to preserve the pattern today, therefore, undergo a corrective decline. However, below the Kiwi is supported by a cluster, formed by the weekly R1 and the Bollinger band, which could limit the intraday losses at 0.7088/57. From here on further the pair is likely to begin declining, until the channel's lower boundary is reached again around the 0.66 mark.
Traders' Sentiment
There are 60% of traders now being short the Kiwi, compared to 59% on Thursday. At the same time, the portion of orders to buy the New Zealand currency increased from 52 to 55%.
Fri, 10 Jun 2016 14:13:36 GMT
Source: Dukascopy Bank SA
- UOB (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Despite the New Zealand Dollar opening with a bullish gap on Thursday, it was unable to climb significantly higher against the US Dollar, also unable to pierce the ascending channel's resistance line.[/ANNOUNCE] As a result, the NZD/USD currency pair is expected to preserve the pattern today, therefore, undergo a corrective decline. However, below the Kiwi is supported by a cluster, formed by the weekly R1 and the Bollinger band, which could limit the intraday losses at 0.7088/57. From here on further the pair is likely to begin declining, until the channel's lower boundary is reached again around the 0.66 mark.
Traders' Sentiment
There are 60% of traders now being short the Kiwi, compared to 59% on Thursday. At the same time, the portion of orders to buy the New Zealand currency increased from 52 to 55%.