© Dukascopy Bank SA
- Credit Agricole (based on MarketWatch)
Pair's Outlook
NZD/USD looks to be poised for additional gains, as the rising trend-line proves to be sufficiently strong to direct the pair upwards. Moreover, 55 and 100-day SMAs should provide additional support, while weekly and monthly technical studies give "buy" signals. If this scenario holds, then the most likely levels for a prolonged bearish correction to occur is at 0.8453/48 or 0.8492/76.
Traders' Sentiment
During the weekend SWFX marketplace participants did not have a change of heart and persistently prefer the U.S. Dollar over the kiwi, as shorts take up 73% of the total amount of opened positions. As for the orders, 40% of traders intend to acquire the New Zealand Dollar and 60% - to acquire the greenback.
© Dukascopy Bank SA