© Dukascopy Bank SA
- BK Asset Management (based on the New Zealand Herald)
Pair's Outlook
Frankly, the pair did not make any major move through the week, while the biggest decline was on Tuesday when the pair dropped below the weekly S1 at 0.7805. Now, at the moment the Kiwi seems supported by the monthly PP and most likely the pair will continue to trade sideways. However, a downside for the pair might be the strong resistance (weekly and monthly R1) at 0.7974/85 that has not been breach for two months.
Traders' Sentiment
While the sentiment of the SWFX market participants remains neutral with respect to NZD/USD, since only 51% of traders are short, the share of sell commands is split with the buy ones, as they both share 50% of the total.
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