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- Morgan Stanley (based on Bloomberg)
Pair's Outlook
The NZD/USD pair bears moved the market to the downside, below the 55– day SMA at 0.779 level. The RSI went from an overbought condition to the normal one. Meanwhile, the 100– and 200– day SMA's continue to point to the south, yet, the 55– day SMA holds neutral. In case of a step lower, an immediate support will be found at the monthly and weekly PP at 0.777.
Traders' Sentiment
Less traders are willing to buy the pair as only 37% of all are long. The 50– pip orders are placed to be long for 33% of the case and 30% of the market participants will buy the cross once it goes 100– pips higher.
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