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"Our take on his underlying message remains the same - the Fed stands ready to take further action if needed, but it is not yet ready to do so beyond the June extension of Operation Twist."
- Brown Brothers Harriman (based on MarketWatch)
Pair's Outlook
|The New Zealand dollar jumped higher against the American dollar today, trading above the 200-day simple moving average. As bulls currently dominate the market, the level at 0.8021 (R1 Weekly) presents an initial resistance level for market participants. A breakout here would expose next lines at 0.8054 (Upper Bollinger band) and 0.8158 (R3 Weekly), accordingly.|
Traders' Sentiment
|The currency couple remains neutral with 49% of investors holding long positions contrary to 51% of traders keeping short positions on NZD/USD. Since yesterday nothing has changed as short and long positions are equally allocated: bullish and bearish investors hold equal number of orders (50%/50%).|
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