© Dukascopy Bank SA
"Any talk of coordination of central bank action is music to the ears for risk appetite. It's still pretty precarious really, but it's certainly enough to see the Aussie and the kiwi rally a little bit."
- RBC Capital Markets (based on Bloomberg)
Pair's Outlook
NZD/USD managed to sustain a bullish impetus and it continues trading higher ahead of the US macroeconomic data. If bullish momentum to continue, 0.7846 (61.80% Fibo) and 0.7906 (55-day ma) are likely to be the next targets among bearish market participants. A breakout of these levels would pave the way to the third resistance line at 0.7967 (R2 Weekly; 200-day ma).
Traders' Sentiment
Sentiment on NZD/USD slightly weakened compared to yesterday as 55% of investors expect the pair to sustain an upward trend. Within 100 points from the latest market price, the sentiment is expected to bullish by 60% of the currency traders.
© Dukascopy Bank SA