© Dukascopy Bank SA
- Bank of New Zealand (based on TVNZ)
Pair's Outlook
NZD/USD slumped heavily today, as the price dropped from the 100-day SMA at 0.8388 through the lower Bollinger band and the 200-day SMA at 0.8317. Analysing further opportunities, a settlement beneath the 200-day SMA would mean a full reverse of a long-term up-trend with the focus on the closest historical support levels at 0.8188 and 0.8113.
Traders' Sentiment
The majority of traders (72%) still keep short positions, and as we can see now it is a very good and profitable decision. Presumably, most of them may be kept until the price reaches a 0.82 benchmark. Pending orders market is slightly bearish, since 56% of placed orders are to sell the kiwi.
© Dukascopy Bank SA