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"There is a good chance the number [in US non-farm payroll on Friday] will disappoint and that will lead to safe-haven flows like the U.S. dollar."
- Joseph Capurso, strategist at Commonwealth Bank (based on CNBC)
Pair's Outlook
NZD/USD took a plunge today after the release of the optimistic preliminary US GDP data, triggering bearish trend today. Support levels at 0.7470 (S1 Weekly) and 0.7417 (Lower Bollinger band) are going to be the initial target as the bearish trend progresses, however, near 0.7417/0.7368, a consolidation and further trend reversal is likely to happen as bears will face a fierce bullish resistance there.
Traders' Sentiment
The absolute majority of currency traders anticipate the pair to decline further (100%), and within 100-pip range from the market price investors remain strongly bearish on the currency couple (100%).
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