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"I don't think there is much need to worry about China, which is a country that can afford to implement fiscal measures quickly."
- Daisuke Karakama, Mizuho Corporate Bank (based on CNBC)
Pair's Outlook
The New Zealand-US dollar currency couple edged a bit higher today, though at the moment the pair is trading above the 200-day SMA. NZD/USD is likely to maintain bearish mood unless it closes above 0.7985/98. For now, bears aim at 0.7876 (S2 Weekly) and in case of success, 0.7835 (Lower Bollinger band; PP Monthly) and 0.7777 (55-day SMA) are going to be targeted next.
Traders' Sentiment
SWFX marketplace traders' sentiment on NZD/USD didn't change much compared to yesterday and currently it is almost neutral as around 53% of currency traders hold short positions and 47% of traders keep long positions. However, the allocation of orders indicates that 75% of market participants expect NZD/USD to continue rallying further.
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