© Dukascopy Bank SA
"Financial market sentiment brightened overnight, as 'leaked' details of the ECB's bond buying plan hit the market"
- Bank of New Zealand (based on New Zealand Herald)Pair's Outlook
NZD/USD is headed towards 0.8027/51, as no other resistance below it currently possesses a threat to persisting bullish tendency. Nevertheless, the 55 day SMA, in conjunction with the 200 day SMA, is not anticipated to give in and allow reversal, on the contrary, it is supposed to enforce continuation of a decline started on August 7.
Traders' Sentiment
Traders' sentiment was fluctuating not far from 50% (+/-2%) gauge for three weeks, but is bullish for third consecutive day as 63% of traders (7% increase since yesterday) hold long positions on the pair. Conversely, share of pending buy orders halved since yesterday. Currently only 37% of all posted orders are buy orders (77% yesterday).
© Dukascopy Bank SA