NZD/USD descends from 0.7876/53

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Next week's [June] payroll report is likely to be closely watched by the market for clues over the timing of Fed tapering."
- Barclays (based on MarketWatch)

Pair's Outlook

As expected, there was no reason for NZD/USD to climb over 0.7876/53 mainly formed by the bearish trend-line, which for now appears to be impenetrable. Accordingly, we should now pay more attention to 0.7716—the main events are to revolve around this level. Judging by the technical indicators, the selling pressure will push the price below it, closer to 2012 low (0.7454).

Traders' Sentiment
The share of bullish towards the New Zealand Dollar traders has more or less stabilised at 62%, even though it is now possible to acquire the currency at a cheaper price than yesterday. In the meantime, the difference between the buy (42%) and sell (58%) orders widened considerably.
© Dukascopy Bank SA
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