© Dukascopy Bank SA
- OMF (based on the New Zealand Herald)
Pair's Outlook
The New Zealand Dollar has regained some small part of its losses trough last two trading days. However, the pair has to prove its strength by breaching the 200-day SMA and the major level at 0.85 to move higher. The 0.85 level has been very important level this year as it supported the pair from the beginning of March to the end of May, when it was finally broken. The monthly technicals are bullish and that could mean that the pair's rebound is coming.
Traders' Sentiment
Although there is no substantial movement observed in NZD/USD, the traders are becoming less sure that the Kiwi is able to appreciate. At the moment 57% of the pair's traders are bulls, but the gap between the buy (60%) and sell (40%) orders is narrowing.
© Dukascopy Bank SA