© Dukascopy Bank SA
- ANZ Bank New Zealand (based on The New Zealand Herald)
Pair's Outlook
The New Zealand currency behaved according to the forecast, as the NZD/USD appreciated on Wednesday and negated Tuesday's losses. Furthermore, the resistance cluster, represented by the monthly and weekly PPs, kept the Kiwi from rising higher and is likely to turn the tide today. As a result, the NZD is expected to partially erase yesterday's gains and resume trade at its multi-year lows. Meanwhile, the Bollinger band retains its role of the immediate support, but lies out of reach at the major level of 0.63.
Traders' Sentiment
More traders have a positive outlook towards the Kiwi today namely 62% of them (previously 57%). At the same time, the number of commands to sell the NZ Dollar increased from 60 to 63%.
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