© Dukascopy Bank SA
- HiFX (based on TVNZ)
Pair's Outlook
NZD/USD takes a breath between periods of depreciation, as the price is outside the Bollinger band. Today the pair gains marginally from a 0.8271 level with a perspective to re-test the 200-day SMA at 0.9317. If bearish trend remains in the future, the pair should reach the monthly S2 at 0.8205 or even the weekly S1 at 0.8167.
Traders' Sentiment
Bears are in the lead of opened positions in the market, as they possess a 74% share. Seems that investors feel comfortable with the current depreciation, as their portion does not change with the decreasing exchange rate. Pending orders market is bearish with 59% of sell orders.
© Dukascopy Bank SA