© Dukascopy Bank SA
- Credit Agricole (based on MarketWatch)
Pair's Outlook
The currency pair appears to have lost its upward momentum after respecting Mar 13 low at 0.8161, as today NZD/USD does not exhibit any activity. Nonetheless, if we are to rely on price's past performance near the bullish trend-line it most recently touched on Jun 11, the rally should eventually penetrate 0.8165/49 and 0.8292/80, then aim for 0.8476.
Traders' Sentiment
Market's general attitude towards NZD/USD remains neutral, just as on Friday: while the share of bulls is at 53%, bears continue to constitute 47% of the market. Turning to the orders placed on the pair, 65% of them are to enter the market with a sell trade and the rest 35% are to buy the kiwi.
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