Dukascopy - Analytics

Dukascopy

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NZD/USD slides lower again

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"… a weak market in 2015 and even lower oil prices. Demand rebound will not save the oil market.'' 
- Facts Global Energy (based on MarketWatch)


Pair's Outlook
The cross continues to compete with the heavy resistance at 0.749, where the 38.20% Fibonacci and the May 2012 low levels are situated. The pair has been trading within the range between the November 2011 low at 0.733 and the area mentioned previously since 3 February. The 55– 100– and 200– day SMAs are pointing to the south and the daily sentiment remains bearish.


 Traders' Sentiment
The sentiment from the pair's traders remains to be bearish since 62% of all hold the short positions. As a matter of fact, the market added some pending orders and the 50– pip ones are bullish for 53% of the case. Meanwhile, the 100– pip orders are placed to be bought by 55% of all traders.
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