© Dukascopy Bank SA
- Moody's Analytics Inc. (based on Bloomberg)
Pair's Outlook
Yesterday the pair attempted to breach the support line at 83.50 and was successful. Today the price retested this line and decreased even further. Currently the price is on the 100–day SMA at 0.8314 and the closest support level would be 0.8290, where the lower Bollinger band merges with the weekly S1.
Traders' Sentiment
While the New Zealand Dollar is losing its position, the sell side contracted to 26% and the buy side expanded to 74%. Market sentiments indicate that the kiwi is overpriced. Pending orders segment is in line with the spot market, since the majority of waiting orders are sell, namely 68%.
© Dukascopy Bank SA