© Dukascopy Bank SA
- Bank of New Zealand (based on the New Zealand Herald)
Pair's Outlook
The New Zealand's currency is starting to recover from the Tuesday's decline, as the currency pair is moving closer to the weekly PP at 0.8358. Nonetheless, NZD/USD is still on a down-trend that started to form at the middle of July, thus the pair will need a strong bullish driver to breach the weekly PP and down-trend's resistance at 0.8358/73. Moreover, the pair's daily and weekly technical indicators are pointing to the south, adding to its bearish intentions.
Traders' Sentiment
The sentiment is little changed, as 61% of the traders are expecting it advance. As for the orders placed 100 pips from the spot, they are very similar to the current sentiment—60% of them are set to buy.
© Dukascopy Bank SA