© Dukascopy Bank SA
– based on economies.com
Pair's Outlook
The NZD/USD pair has been bouncing up and down this week, as the pair reached new heights on Friday, dropped on Monday, regained the height on Tuesday, and it is once again falling in the middle of Wednesday. Basically this movement up and down has been happening between the level of 0.7220 and 0.7300. At the moment, the currency exchange rate has slightly moved lower from the height. However, the rate has been volatile during the first half of Wednesday's session, as it has bounced off the weekly PP at 0.7233.
Traders' Sentiment
Traders mark the seventeenth session of being majorly bearish on the pair, as 71% of all open positions are short on Wednesday. However, pending orders in the 100-pip range have become also short, compared to yesterday's bullishness, as on Wednesday 71% of orders are short.
© Dukascopy Bank SA