© Dukascopy Bank SA
- BNZ (based on the New Zealand Herald)
Pair's Outlook
Gradual; however, insistent, this is how we could describe the current NZD/USD advance towards the psychological level at 0.80. The biggest concern is that this level could send the currency pair below the 0.79 mark, as it happened the last time. The technical indicators are mixed, acceding even more uncertainty to the overall situation. Nevertheless, even if the 0.80 level will be breached we are sceptical on a further advance in the short run.
Traders' Sentiment
The traders' sentiment has not changed for five straight trading days, as exactly the same amount of market participants share the bullish and bearish outlook. Concerning the orders placed 100 pips from the spot, the amount of buy orders rebounded to 56%.
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