© Dukascopy Bank SA
- Commerzbank (based on CNBC)
Pair's Outlook
The area created by the falling trend-line, 55-day SMA, weekly R1 and other studies continues to deflect NZD/USD's attacks, which have a low possibility of succeeding. The monthly and weekly PP in this case are unlikely to stay intact, they are expected to let the price to decrease down to the major up-trend at 0.7700/0.7677 that in turn keeps the 2012 low at 0.7454 safe.
Traders' Sentiment
The gap between the numbers of long (55%) and short (45%) positions narrowed further, down to ten percentage points, implying that traders are now less convinced in NZD/USD's ability to advance upwards. Meanwhile, the portion of buy orders placed on the pair went down to 36%.
© Dukascopy Bank SA