© Dukascopy Bank SA
- ANZ (based on FXStreet)
Pair's Outlook
The Kiwi experienced a boost on Monday, after Russia lifted the ban on some of the New Zealand's dairy products. As a result, the NZD/USD exchange rate almost reached the 0.66 psychological level, as the 20-day SMA limited the gains. The given SMA keeps providing resistance today, thus, the NZ Dollar is likely to retreat to the weekly pivot point at 0.6552, despite technical indicators giving mixed signals. However, the US Dollar might lack the strength to outperform the NZD, leaving the pair in limbo around 0.6580.
Traders' Sentiment
Bears keep outnumbering the bears, as 56% of traders have a negative outlook towards the Kiwi. Meanwhile, orders are equally divided between the buy and sell ones.
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