© Dukascopy Bank SA
"It's more than likely kiwi dips should still be bought against the US dollar."
– OMF (based on the New Zealand Herald)
Pair's Outlook
After yesterday's advance the pair has little changed and it is trading around weekly R1 at 0.8614. We expect that NZD/USD is poised for a decline; however, slight appreciation is possible as weekly R1 and Bollinger Bands could encourage the pair for some bullishness and it might approach monthly R2 at 0.8658. Nevertheless, we see it falling towards weekly PP and monthly R1 at 0.8525/18.
Traders' Sentiment
An overwhelming majority (74%) of the traders believe that the Kiwi is going to lose its bullishness and decrease in value relative to its U.S. counterpart. As for the orders placed 100 pips from the spot, there are now (38%) more commands to buy compared to yesterday (28%).
© Dukascopy Bank SA