© Dukascopy Bank SA
- ASB Institutional (based on the New Zealand Herald)
Pair's Outlook
The Kiwi continues to slide lower, as of today it has approached the weekly and monthly S1 at 0.8265/60 and it seems that it has to forget about reaching the 0.93 level in the near term. At the moment, the trend is to the downside and also the technical indicators approve that with the daily and weekly ones being bearish. We expect NZD/USD to fall closer to the 0.82 mark; however, around this level some consolidation might appear.
Traders' Sentiment
Nonetheless, even with the previously mentioned bearish signals a majority (56%) of the SWFX traders have long positons on the pair. Bullish side of the pending orders in 100 pip range, however, added 1% and is at 69% today.
© Dukascopy Bank SA