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- Credit Suisse (based on CNBC)
Pair's Outlook
This week NZD/USD opened above 0.8105, meaning that the resistances at 0.8149 and 0.8200/0.8174 are now under threat of being violated. However, the pace of kiwi's appreciation seems to be decelerating and the bullish momentum it carries is anticipated to be nullified by the monthly R1 together with the 200-day SMA and the level that proved to be important in 2008 and early 2013.
Traders' Sentiment
The difference between the supporters of a stronger New Zealand Dollar and the supporters of a stronger greenback further increased. At the moment or writing the former are constituting 37% of the total amount, bears, on the other hand, are in a majority, taking up 63% of the market.
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