© Dukascopy Bank SA
- National Australia Bank (based on Bloomberg)
Pair's Outlook
Last week NZD/USD advanced slightly and it was trading just above the 20-day SMA. Today the pair was little changed; however, it has not lost its short-term bullishness. We expect that it might approach 2014 high at 0.8431. After finding a strong resistance at that level the pair is likely to fall and trade around 20-day SMA at 0.8324 or even at the 55-day SMA at 0.8276.
Traders' Sentiment
The bulk of the SWFX traders are bearish (72.5%). The sentiment among the market participants remains almost unchanged compared to the last trading week. Regarding the pending orders, the bearish side reached approximately 76%, whereas last Friday their share stood at 61%.
© Dukascopy Bank SA