© Dukascopy Bank SA
"One of the worst-kept theories is that the US dollar is due to strengthen after the employment numbers, which should weaken the kiwi."
– HiFX (the New Zealand Herald)
Pair's outlook
The kiwi has proven itself as the best performing currency among its most-traded peers lately, last week the pair extended its gains and lost its momentum just around 0.87. At the moment it is trading near monthly R2 at 0.8658, in our opinion the pair has reached the top. Most likely it will slip towards 20-day SMA and weekly S1 at 0.8559/58 as we do not think that weekly PP could be that significant support.
Trader's sentiment
There has not been any major changes in the sentiment towards NZD/USD as 72% expect the kiwi to depreciate. Talking about the orders set 50 pips from the spot, there are now considerably more orders to buy (52%) compared to Friday (28%).
© Dukascopy Bank SA