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- CMC Markets (based on WBP Online)
Pair's Outlook
The New Zealand Dollar slumped against its US Counterpart last Friday, after having tested the immediate support cluster around 0.6775. Nevertheless, today, upon reaching the closest support in face of the weekly PP, the Kiwi rebounded on upbeat data from China over the weekend. The NZD/USD is unlikely to fall back towards the immediate support, due to lack of market movers; however, a risk of falling exists, as the key resistance cluster remains intact. Technical indicators are bolstering the possibility of a positive outcome with their bullish signals.
Traders' Sentiment
Bearish SWFX traders' sentiment remains unchanged at 54%, while the number of orders to sell the Kiwi inched up from 53 to 60%.
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