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"Risk appetite has found some footing"
- Western Union Business Solutions (based on Reuters)Pair's Outlook
Even though the candle has not yet been completely formed, looks like bulls have finally taken control of the currency pair after a lull. Technical indicators too point to the upside. The nearest resistance that may find itself under a threat of being breached is at 0.8265, whereas 0.8324/37 promises to be a more serious obstacle. Supports at 0.8218 and 0.8185/83, on the other hand, should limit near-term dips.
Traders' Sentiment
NZD/USD remains oversold to a significant degree, being that 74% of traders are short on the pair and 26% are long on it, making a dip a less likely scenario, since there is no room for more bears. Nevertheless, 68% of orders will impede emergence of a rally, being commands to sell the kiwi.
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