© Dukascopy Bank SA
- ASB (based on CNBC)
Pair's Outlook
The down-trend resistance line, in combination with the 100-day SMA, did not let the New Zealand Dollar to appreciate any further and initiated a decline that has already broken through the monthly PP. Consequently, the selling pressure may last until the exchange rate reaches a cluster of supports at 0.8126/05, specifically the 200-day SMA, monthly S1 and the down-trend support line.
Traders' Sentiment
The SWFX traders have become less certain that the kiwi will experience debasement—the share of short positions contracted from 67% down to 63%. However, we should note a substantial gain in the amount of sell orders—from 50% up to 74% just within 24 hours.
© Dukascopy Bank SA