© Dukascopy Bank SA
- Rabobank (based on CNBC)
Pair's Outlook
NZD/USD closed above 0.8105 yesterday, but currently seems to be experiencing difficulties at the 200-day SMA (0.8150). Another formidable resistance zone lies nearby, specifically at 0.8200/0.8183. Its intactness suggests that the long-term outlook on the currency pair is still valid; accordingly, we are inclined to believe the price should soon start targeting the monthly R1 at 0.8016 and the 100-day SMA a t 0.7923.
Traders' Sentiment
The sentiment with respect to the kiwi worsened even more, being that now only 40 out of 100 traders are betting on the currency's outperformance against the U.S. Dollar. Yesterday their percentage amounted to 43%. The distribution between the buy and sell orders is respectively 59% and 41%.
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