© Dukascopy Bank SA
- Westpac Banking Corp. (based on the New Zealand Herald)
Pair's Outlook
The Kiwi fell lower, after posting losses for already two days in a row. The next support level that could halt the current decline is June low at 0.8403, we do not expect a further retreat from that point onwards for the time being. Moreover, it was at the beginning of March when we saw the pair trading below the 0.84 mark. The weekly and monthly technicals are pointing upwards, suggesting that in medium to longer period the pair will rebound.
Traders' Sentiment
The sentiment towards NZD/USD remains unchanged, as 55% of the SWFX market participants believe in the Kiwi's appreciation. Bullish side of pending orders increased by 2-14% and is at 69-77% gauge today depending on the range.
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