© Dukascopy Bank SA
- IHS Global Insight (based on the New Zealand Herald)
Pair's Outlook
The New Zealand Dollar dipped towards the 0.78 mark, after reversing some of Wednesday's losses yesterday. Even though, the currency pair started this week with two consecutive daily gains it was not able to keep the bullish momentum alive. The shorter-term technicals, namely the daily and weekly, continue to put the pair under a bearish pressure, thus it would not be a suprise if the Kiwi tests this year's low at 0.7708.
Traders' Sentiment
The difference between the amounts of long (51%) and short (49%) positions remains negligible, meaning the sentiment remains neutral for the time being. Also, the gap between the buy (58%) and sell (52%) orders is narrowing.
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