NZD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The New Zealand Dollar has been losing ground against its U.S. counterpart since early May, when it approached a three-year high of 0.8780. In the second part the month, NZD/USD entered a bearish corridor that took it to a two-month low of 0.8452. Now the currency couple is moving in the south direction and if the decline persists in the hours to come, the instrument may re-approach the recent low. At the same time, SWFX data shows that bullish bets slightly outweigh the bearish ones, with the proportion of long positions being 56.25% and short-43.75%.
© Dukascopy Bank SA

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