© Dukascopy Bank SA
"We now find ourselves siding with our long-term strategic view of a stronger kiwi, held aloft by global forces as local factors are superseded."
- Cameron Bagrie, ANZ (based on CNBC)
Pair's Outlook
The Kiwi dollar stood steadily today, keeping a positive stance against the greenback. Therefore, if bullish inertia intensifies, 0.8229 (R1 Weekly) might become an initial resistance level for bullish traders. A breach of this line would expose 0.8258 (Upper Bollinger band) and 0.8319 (61.80% Fibo), respectively.
Traders' Sentiment
Traders' sentiment on NZD/USD holds a bullish stance right now as 62% of traders are holding long positions contrary to 38% of market participants keeping short positions. Pending order allocation suggests that 75% of market participants foresee the pair to commence a bearish correction over the middle-term and 25% of traders stick to an alternative scenario.
© Dukascopy Bank SA