© Dukascopy Bank SA
"A disappointing U.S. jobs report Friday raised expectations for the Federal Reserve to embark on another bond-buying program or other measures to boost the economy. Such moves in the past weakened the currency by increasing the supply of dollars."
- WSJ
Pair's Outlook
NZD/USD managed to maintain a flat trend today. However, if the bearish impetus to occur, support levels at 0.7427 (S1 Weekly; Lower Bollinger band) and 0.7368 (November 2011 low) are going to be the initial targets in case bearish trend develops further. Near 0.7417/0.7368, a consolidation and further trend reversal is highly probable as bears will face a fierce bullish resistance there.
Traders' Sentiment
Even though presently the American Dollar is the most popular and the New Zealand Dollar is the least popular currency, traders' sentiment is mixed on NZD/USD, as 56% of positions are long and 44% of them are short.
© Dukascopy Bank SA