© Dukascopy Bank SA
- ANZ Bank New Zealand (based on the New Zealand Herald)
Pair's Outlook
The pair fell below yesterday's low earlier today, which was also this year's low, although, after that the Kiwi received a solid piece of bullish impetus from 0.76 level. Now, if the pair maintains its recent bullishness then we are likely to see a rebound towards the 0.79 level, possibly even towards the monthly R1 that is located at 0.8001. At the same time downside risks remain in play, especially, with the bearish weekly technical indicators.
Traders' Sentiment
The gap between the amounts of long and short positions open on NZD/USD has disappeared, as the amount of them are completely identical at the moment. Meanwhile, the share of buy orders dropped from 59% to 27%.
© Dukascopy Bank SA