© Dukascopy Bank SA
"Hope for kiwi exporters stayed alive after the terrible Chinese trade balance and pretty good numbers out of the States."
- HiFX (Based on The New Zealand Herald)
Pair's Outlook
After last week's advance, when the pair broke even the 0.85 level and set new 2014 high at 0.8522, today NZD/USD has little changed and consolidated around previous week's closing level. Pair's technical indicators are sending mixed signals; however, we expect that it will fall towards weekly S1 and 20-day SMA at 0.8368/0.8363. In case the support level gets broken then it might slide further towards 55-day SMA.
Traders' Sentiment
Share of the bears in the market increased to 74% from Friday's 71%. As for the orders placed 100 pips form the spot, there are now rather more commands to buy compared to last week – 53%.
© Dukascopy Bank SA