© Dukascopy Bank SA
- ASB Bank (based on the New Zealand Herald)
Pair's Outlook
NZD/USD has little changed today, after yesterday, when the pair fell well below the 0.85 mark. Now the pair is trading near June low at 0.8403 and if this level is breached then that might cause a major sell-off towards the 0.83 level, which was approached at the beginning of March for the last time. Nevertheless, the longer time technical indicators are pointing north and that could be a great catalyst for the bullish traders.
Traders' Sentiment
SWFX market participants are not getting discouraged by Kiwi's depreciation, on the contrary, the amount of traders being long (59%) is increasing. In the meantime, the share of buy orders grew from 57% up to 62%.
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