© Dukascopy Bank SA
- HiFX in Auckland (based on the New Zealand Herald)
Pair's Outlook
At the beginning of this week the pair is trading steadily above the 20 and 55-day SMA and monthly PP at 0.8616/30. Therefore, the pair is well-supported and also the technical indicators are largely bullish. These levels could push the pair higher towards the 2013 high and weekly R1 at 10.8678/85. If this level is broken then the next target will be the major level at 0.8700, which could be more challenging.
Traders' Sentiment
At the moment of writing 72% of the SWFX market participants are expecting the New Zealand currency to lose value against the greenback. However, the distribution between the buy and sell orders is quite stable—41% and 59% respectively.
© Dukascopy Bank SA