© Dukascopy Bank SA
- Societe Generale (based on Bloomberg)
Pair's Outlook
Even though were no notable resistances at 0.8257/29, only the 20-day SMA and the weekly R1, NZD/USD failed to sustain the rally and fell back to 0.8203/0.8170. Considering the density of this support (100-day SMA, weekly PP, monthly PP, etc.) the price should be underpinned by it. However, a risk of a spike down to the 200-day SMA should not be disregarded.
Traders' Sentiment
Some of the traders decided to buy NZD/USD on the latest dip, being that their share increased by four percentage points. Nevertheless, they are still in a distinct minority and take up only 34% of the market. The ratio between the buy and sell orders is 44% to 56% respectively.
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