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"I think there are more options on the table than we can think of right now. There's a lot of anticipation after Draghi's comments."
- Jesper Bargmann, RBS (based on Reuters)
Pair's Outlook
The New Zealand dollar advanced confidently further and right now 0.8181 (R1 Weekly) is open for bullish traders. Thus, if bullish momentum holds further, 0.8256 (R2 Monthly) is likely to be hit first. A breakout here would pave the way towards the third resistance level at 0.8319 (61.80% Fibo).
Traders' Sentiment
NZD/USD currency pair is overbought to a large extent, since 74% of all the positions opened are long. Consequently, shorts constitute 26% of the market. Within 100 pips from the market price, bullish stance settles back with only 57% of market participants expecting NZD/USD to advance further.
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