© Dukascopy Bank SA
- Rabobank International (based on Bloomberg)
Pair's Outlook
The last week was one of the few lately when NZD/USD advanced; moreover, the pair prolonged its advance today. However, the technical indicators are pointing to the south, claiming that the pair is overbought at the moment. In case the Kiwi breaches the major level at 0.79 then the weekly R1 and monthly PP at 0.7962/70 becomes the targets. Nonetheless, the possibility of a drawback has not disappeared, a retreat towards 0.7850 is rather realistic.
Traders' Sentiment
The sentiment has not changed since the last day of the previous week, as 51% of the SWFX market participants expects the pair climb higher. The gap between the buy and sell orders is widening—23% and 77% respectively.
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