© Dukascopy Bank SA
"Dips in the New Zealand dollar against both the euro and the U.S. dollar would likely attract more buying from
corporate and real money accounts."
- Bank of New Zealand (based on WSJ)
Pair's Outlook
NZD/USD failed to advance further as vague prospects over the Spanish macroeconomic conditions. However, the bearish
momentum holds firmly, and NZD/USD could slide towards an initial support level at 0.7573. Support levels at 0.7470 (S1 Weekly)
and 0.7417 (Lower Bollinger band) to remain in focus once there is a breakout of the initial support level.
Traders' Sentiment
At the moment, 63% of investors are bearish over NZD/USD, expecting New Zealand dollar to lose value against the US dollar.
Within 100-pip range from the recent market price, bearish mood persists as 69% of traders expect the pair to move lower over the
middle term.
© Dukascopy Bank SA