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- Deutsche Bank (based on CNBC)
Pair's Outlook
Even though the down-trend resistance line has been preserving its intactness for a month, a quick test of 0.7740/16 provided NZD/USD with more than enough bullish impetus to threw the pair above 0.8037/10. The next hurdle the price will have to breach in order to confirm its intentions to rise is at 0.8186/49, which is formed by Mar 13 low and monthly pivot point.
Traders' Sentiment
The sentiment became neutral with respect to NZD/USD after the currency couple posted considerable gains this week. The share of bulls dropped to 53% and their advantage in numbers over the bears is now insufficient to claim the market foresees continuation of the surge.
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