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- Westpac Banking (based on Bloomberg)
Pair's Outlook
NZD/USD remains limited by a channel formed by the 100-day SMA and 200-day SMAs. The currency pair is currently traded just around the weekly PP level at 0.8288. Market lacks volume and volatility for now, thus the pair seems to be accumulating momentum for further movement. The graph suggests that appreciation scenario would be more difficult, as an area above contains a bunch of notable SMAs.
Traders' Sentiment
SWFX market traders' sentiments remain unchanged, as the buy side has 28% and the sell side has 72% of opened positions. Waiting orders' segment reveals dominance of bears, as merely 35% stand for a long position and 65% for a short.
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