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"The contained inflation outlook adds to the case for little urgency for the RBNZ to raise the rate."
- ASB Bank (based on CNBC)
Pair's Outlook
NZD/USD edged higher today, touching 200-day simple moving average (0.7983). Bulls aim at overcoming the level, which is also confirmed by 61.80% Fibo. A breach of 0.8021 (R1 Weekly) would clear the way for 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.
Traders' Sentiment
SWFX indicates that sentiment on NZD/USD is bullish as 58% of traders are holding long positions contrary to 42% of market participants with short positions. Pending order disposition reveals the majority (58%) of market participants expecting the currency couple to advance further.
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