© Dukascopy Bank SA
- HSBC Holdings Plc. (based on Bloomberg)
Pair's Outlook
The New Zealand Dollar has gained against the U.S. counterpart for a second straight day, making it the first time in more than 10 days. Currently, the pair looks relatively stable above the 0.78 mark that was breached two days ago. Undoubtedly, the pair is showing some signs of recovery; however, since its slump has been this significant a very strong driver is necessary. Moreover, the pair looks well-supported by weekly S1 and Bollinger Bands.
Traders' Sentiment
The portion of bulls lost one percentage point, but still the majority of traders expect a further recovery of the Kiwi, specifically 55% of them. The distribution between the buy and sell orders is wider—34% and 66% respectively.
© Dukascopy Bank SA