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Supports: 1.5275; 1.5144; 1.5005
Outlook
Although RSI indicator shows neutral signal, the bearish reaction that started yesterday continues, and now EUR/NZD currency pair is heading towards an interim support at 1.5275 (Lower Bollinger Band). This level is very likely to reverse the trend to bullish, however, if it is broken, the subsequent support at 1.5144 (Weekly S1) might be the changing point for the current movement downwards. On the other hand, resistance levels are at 1.5379, 1.5471 and 1.5592 and there currently are no signs to expect that they might be breached.
Traders sentiment
Traders' sentiment at SWFX market shows a complete contrast with the prevailing bearish trend, as 75% of all traders hold long positions on EUR/NZD and only 25% hold short positions. The situation with orders, however, is different, as only 29% of traders ordered to buy and 71% of trades ordered to sell the pair, implying decreased possibility of the currency couple rallying extensively.