© Dukascopy Bank SA
- Royal Bank of Canada (based on MarketWatch)
Pair's Outlook
NZD/USD retains bullish impetus it received after an encounter with a formidable support zone, consisting of 55 and 100-day SMAs, not to mention the bullish support line that has been preventing dips since June. The price is expected to target the recent high at 0.8475, but first will have to overcome 0.8343, which is highly unlikely to delay a surge for long.
Traders' Sentiment
Bears have further enhanced their dominance over bulls, now taking up 72% of the market, leaving long on the pair market participants in a distinct minority (28%). This signal is also reinforced on the side of placed orders, 62.5% of which are to sell the pair and 37.5% are to buy it.
© Dukascopy Bank SA