© Dukascopy Bank SA
- IS Investment (based on MarketWatch)
Pair's Outlook
Depreciation of the New Zealand Dollar revs up, as none of the nearby supports seem to be sufficient to nullify the downward momentum. If the barricades at 0.8127/05, created by the 2012 lows, 200-day SMA, monthly S1 and the down-trend line, fails to stay intact, the price could fall much lower, potentially down to the major up-trend and the monthly S3 at 0.79.
Traders' Sentiment
At the moment a lot less people (61%) consider NZD/USD as overbought than five days ago, when as many as 73% of positions were short. Still, the sentiment is moderately bearish. As for the orders, the current difference between the buy (45%) and sell (55%) ones is insignificant.
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